Stephen Gallo - BMO Capital Markets


Last quote by Stephen Gallo

His departure may mean a higher chance of a 'soft Brexit' which the FX market will treat as GBP-positive. However, his departure could also lead to a wider rift within the CON (ruling-Conservative) Party
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Sep 19 2017 Brexit
Stephen Gallo has been quoted 26 times. The one recent article where Stephen Gallo has been quoted is Sterling breaks above $1.35 but political uncertainty casts doubts over its future. Most recently, Stephen Gallo was quoted as having said, “At this stage, I would say that the BoE is probably no more certain than the FX market regarding when (exactly) it will move on rates. This will depend on the domestic U.K. economy, the path of Brexit negotiations and the pace of EUR appreciation as the ECB tapers.”.
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Stephen Gallo quotes

Jun 14 2017 - London

People are positioned for a dovish

Apr 05 2017

I think they (Czech National Bank) are telegraphing it (dropping the cap), so they must have an intention of removing it. I suspect that they're watching very closely the events taking place in France though, ahead of the Presidential elections. I doubt they'll remove it before we get a result

Mar 21 2017

The euro has been helped by Macron's performance,

Mar 14 2017

We expect the next big move in GBPUSD to be on the downside, and we see the pair falling to $1.17 in three to five

Mar 14 2017

FX investors are going to mainly trade the GBP on the basis of firstly, how the upcoming Eurozone elections turn out and secondly, the tone of the initial Brexit negotiations after Article-50 is formally triggered, and that is basically what has been happening since the start of this week. Political risks are creeping in to the trading environment for Europe's largest currencies in a simultaneous fashion, and that is why the dollar index has been buoyant over the last 24

Mar 07 2017

The run-up into the triggering of (Brexit talks) is having a negative impact, as have some of the recent data confirming a deceleration in growth in the first quarter of the

Mar 07 2017 - Article 50

The run up into the triggering of Article 50 is having a negative impact (on sterling), as have some of the recent data confirming a deceleration in growth in the first quarter of the

Mar 03 2017

People were not expecting the Fed to move in March, so last month they were putting on more (interest rate) carry trades in these currencies. That is clearly coming

Jan 31 2017

I don't think this is a dollar debasement policy. But they are trying to go into talks (on trade deals) with a strong hand which says: you guys have been debasing your currencies, we think you owe us

Jan 06 2017 - Front National

Maybe people have reduced their expectations of downside. It is difficult to get a clear reading (from options pricing) but the consensus is that it is going to be very hard for Le Pen to get

Dec 30 2016

We expect the rough outline of a post-Brexit deal with the EU to take shape before the German elections in Q4 2017. In order to contain populist uprisings in their own jurisdictions, EU politicians that occupy the center ground will be less able to take an aggressive stance towards the U.K. Political tensions in the euro zone should deflect flows in Europe away from the EUR towards the

Nov 07 2016

A lot has happened overnight because of the news on the email, much of the Trump discount in the dollar has already come

Oct 13 2016 - RMB

(This data) is not good for the renminbi but it will also weigh on U.S. treasury

Jun 22 2016

We're really just seeing the tail end of the rally we saw from the start of this

Feb 08 2016

The strong yen stands out. As long as we remain in such a risk-off environment, there's no point in trying to catch that falling

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