Goldman Sacks Pound Bear

Goldman’s top currency-market strategist Robin Brooks left the bank last month. Goldman Sachs was advising its clients that its “top trade” for 2017 was to short the British pound against the US dollar. It has now reversed its recommendation.

In a research note published yesterday the bank offered a mea culpa and recommended clients sell dollars to buy pounds. At one point earlier this year people were talking about the £ going to parity with the $, it is now at $1.28. Hard to know how the Remainers will spin this…




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Quote of the Day

Iain Dale reviews the Sunday politics shows…

“Just watched Marr Show. Fantastic work from Emma Barnett. Showed no sign of nerves at all and did a brilliant job of questioning the politicians, in a way they may not have been expecting. It worked. A great contrast to the indulgent, Remainer wankfest on Peston On Sunday today.”

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