SaxoTV

Beecroft: Sterling struggles amid election uncertainty

433 views
April 10, 2015 beecroft, britain, british, british economy, british election, british pound, cable, dollar, dollar outlook, dollar strength, dollar weakness, dollars, election, elections, foreign exchange, forex, forex idea, forex market, forex markets, forex saxo bank, forex trading, fx, fx crosses, fx forex, fx investing, fx market, fx markets, fx options, fx saxo bank, fx strategy, fx trade, fx trades, fx trading, fx volatility, fxspot, gbp, gbp eur, gbp falling, gbp trading, gbp trading 2015, gbp usd, gbp weakening, gbpeur, gbpusd, general election, general election 2015, market, market reaction, markets, saxo, saxo bank, saxo tv, sterling, sterling dollar, sterling euro, sterling forex, sterling investment, sterling losses, sterling risk, sterling trading, sterling trading 2015, trading, tradingfloor.com, uk, uk banks, uk economy, uk election, uk elections, uk gdp, uk pound, westminster
In less than four weeks, British voters go to the polls to choose the new UK government. But as the outcome is far from certain, Sterling is taking a battering. This Friday the pound fell below 1.46 against the US Dollar for the first time since June 2010. 

Nick Beecroft, Chairman of Saxo Capital markets, says he's short on GBPUSD and can see cable falling further over the next few weeks. He says there are a number of election outcomes which are sterling negative, including a Conservative party victory, due to the uncertainty over an EU referendum.

He reminds viewers that he's already discussed GBPUSD falling to 1.30 and thinks 1.25 is certainly a possibility.