Strategists at BNP Paribas recommend selling pounds versus Australian dollars.

Bank specialists confessed that they keep preferring commodity currencies and Aussie the most. Sterling, on the other hand, seems to have quite negative prospects. British currency is strongly affected by discouraging housing market data. The number of mortgage approvals, for example, fell from 47,000 in July to 45,000 in August as yesterday’s data has shown.

As a result, UK monetary policy is very likely to remain extremely loose for longer period of time and pound will stay under pressure.

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