EFTA Document EFTA01449345

16 May 2013 FX Blueprint: Dashing Buck Staying Beark;h OBI' We've been bearish sterling since the start of the year and stick with the view, despite the last few months' squeeze. First, the recent run of positive UK data surprises versus the US and Euro-area appears to have reached extremes. Even if the run of positive UK data continues, it is difficult not seeing a greater catch-up from the country's two main trading partners. Second, outside of its recent potential to squeeze GBP sh