The document discusses the bearish outlook on the British Pound (GBP) due to various economic factors. It highlights the extreme positive UK data surprises compared to the US and Euro-area, the negative impact of low real yields on portfolio inflows, and the deteriorating investment income balance. It also mentions the risks associated with political and policy changes in the UK, including the EU membership referendum and regulatory burdens on the financial sector.
doj/DataSet10/EFTA01449345.pdf
{"title":"FX Blueprint: Dashing Buck","key_people":["George Saravelos"],"document_date":"2013-05-16","document_type":"correspondence","key_locations":["UK","Eurozone","US"],"key_organizations":["Deutsche Bank"],"reference_numbers":["DB-SDNY-0104715","SDNY_GM_00250899","EFTA01449345"]}