Citi on GBP and Brexit trade talks -
Snippet from Citi on the talks that continue between the EU and UK.
Analysts at the bank look to go long on puts on EUR/GBP, citing:
- things can move quickly on even small positive hints
- We believe it's not really about a deal being made at the Summit, just any movement toward it
- If the market sees any movement on state aid, the only real issue remaining, we don't think GBP will wait for something concrete to rally