Societe Generale sees signs of sterling selling ahead of UK elections

Quotes from Societe Generale

• Hedge funds are weary of the pound ahead of the general elections in the UK (read our Get set for UK elections) on 7 May.
• The net short GBP positions were only slightly reduced in view of the recent strengthening of the sterling but dangers lurk.
• Meanwhile, long dollar positions versus the euro remain stuck at very high levels, inanticipation of the Fed exiting the zero rate policy.