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Nomura kills shorts on EURGBP


Bank issued a note and according to it, Nomura exits EUR/GBP short positions for now.

Bank booked a loss, however the justification of killing shorts is funny. Bank keeps medium-term EUR/GBP bearish view as Brexit pessimism has probably reached peak for time being. What is more, Nomura added that Brexit not main scenario and bank currently assigns 25% probability of Brexit.
Meanwhile GBP appreciates rebounding from lows, both on an improving sentiment and after Osborneā€™s speech and urging G20 to urge Britain no to do anything insane and asking to warn against Brexit.


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