AUD: No reason to buy other than valuation; GBP should keep its bid – SocGen

SocGen strategy thoughts on AUD, GBP and CAD
Societe Generale Research discusses its bias on AUD and GBP in the near-term. "Our Chinese economics team reckons the Chinese slowdown will prompt rate cuts, which is tangible, but when will it weaken the yuan – which appears glued into a narrow range? Even without that, however, SocGen notes.