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Nicole Elliott: Why GBPUSD could go higher still

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The pound was higher again against the dollar this Thursday, just a week before the UK general election.

Veteran FX trader, Nicole Elliott tells Owen Thomas in London that given the 'complacency' in the markets right now, there’s every scope it could go higher still. She says we’ve seen a “really major rethink” in the markets in recent weeks as the pound has continued to rise against the dollar, despite there being no front runner if the opinion polls are to be believed.

Nicole says this is clearly a dollar weakness story as far as sterling is concerned. Recent US GDP data disappointed and the US Fed removed any calendar references to possible interest rate rises in a meeting on Wednesday. However, she’s warning traders to be on their guard and things could change very quickly.