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Beecroft: Is now the time to buy GBP?

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January 08, 2015 bank of england, boe, cable, chf, conservative, content, currencies, currency, david cameron, dollar euro, england, england economy, eurgbp, euro, euro dollar, euro sterling, europe, european union, foreign exchange, forex, fx, gbp, gbpeur, gbpusd, general election, in out referendum, labour, leave the euro, markets, may, may 7th, news, nick beecroft, pm, pound, pound dollar, pound euro, pound sterling, referendum, saxo, saxo bank, saxo capital markets, saxo tv, sterling, swiss franc, television, tories, tory, tradingfloor.com, tv, tv content, uk, uk economy, uk election, uk pm, uk prime minister, uk vote, united kingdom, usdgbp, video, video content, vote, vote 2015, vote2015
Is now the time to buy sterling? Nick Beecroft, the Chairman of Saxo Capital Markets is certainly bullish about the pound's prospects longer term, although he's warning of considerable volatility over the coming months. GBPUSD has lost some 12% in the past six months.
The UK general election on May 7th is the big unknown for the markets, given that there's no clear front runner right now. Nick says should David Cameron and his Conservative Party win an outright majority, this will be good for the pound. Likewise, should Labour win, it's unlikely that a referendum on the UK's membership of the European Union would be held which could also be sterling supportive.