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  1. #1
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    FBS Holdings is offline Senior Member
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    Default FBS Holdings: sell pounds versus francs and buy euro

    Analysts at UBS AG advise investors to sell British currency versus Swiss francs at 1.5580 francs with a stop-loss order at 1.5825. Such recommendation is based on the forecast that pound will decline to the record minimum at 1.5000 francs. Yesterday sterling hit the lowest level since January 5, 2009 at 1.5551 francs.

    The specialists expect that pound will fall when Britain’s government starts fiscal austerity program that implies reduction of the most departments’ budgets by a quarter. The measures will be announced on October 20. The Treasury’s fiscal monitor says they make public-sector lose 490,000 by April 2015.

    The main reason why UBS thinks it’s necessary to turn to franc is that Switzerland’s economy is recovering faster than the European one. Economists surveyed by Bloomberg News predict that annual pace of Swiss GDP growth rose to 2.6% (data is released tomorrow), while euro zone’s economy gained only 1% during this period as it was reported last month.

    Never the less, strategists stopped recommending selling the single currency versus franc. According to them, in the short-term investors are to buy back euro at 1.2868 francs.

    More info about FBS
    FBS Holdings Inc. is an international brokerage company that provides its clients with access to world financial markets – forex, CFD, futures.

  2. #2
    nurlight is offline Banned
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    In my prediction,Euro will fall too..
    All europe companies and marketer will need gas from russia, but right now they are on bad tension. If russia stop selling gas to europe, they will suffer in economic and standart living.

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