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Amundi joins the call for the British pound, despite JPMorgan warning of risks to the bullish trend.
Amundi SA has turned bullish on the British pound amid its impressive rise, despite warnings from JPMorgan about overextended long positions. The largest asset management company in Europe managing 2.3 trillion US dollars in assets, has recently shifted its position to shareholding and expects further bullish trends for the British pound after reaching a one-year high. The company's global forex head, Andreas Koenig, has set a target for the pound to reach 1.35 US dollars by the end of the year, currently hovering around 1.29 US dollars. Amundi has joined Goldman Sachs and other investment banks in being bullish on the British pound, as the UK economy shows signs of improvement and with Prime Minister Stamer's leadership.
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