Monday, November 30, 2009

BNP Paribas: Dubai could support an increase in pressure on the pound

Attempts to reduce the euro / pound remained limited, while continuing to attract the attention of buyers, and a currency strategist BNP Paribas noted that this may partly be due to fears of investors about the prospects of development of the situation around Dubai World. Dubai has large investments in the real estate sector and the market shares of the UK, and they said that Abu Dhabi can insist on a partial sale, as a condition of assistance to the emirate. At BNP Paribas also noted that at present remains favorable for the bulls and the technical picture, and stick to the forecast year-end level stg0.92, though still skeptical about the longer-term prospects for the euro / pound.

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