Morgan Stanley on why cable will fall further
Morgan Stanley thinks cable is headed lower and said that if you want to buy a US dollar bounce, "you have to look into sterling as the currency, where maybe you can best express that view," said Hans Redeker, Morgan Stanley's global head of FX strategy.
"Sterling is becoming cheaper for very good reason," he said.
Redeker noted political risks and that Theresa May's strategy will come into focus in September and she could even be replaced.
