Forex Flash: UK bi-election heralds rise of UKIP - Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that in the UK, the Eastleigh by-election result through up no surprise (LibDem winning with a reduced majority).

However, he highlights the rise of UKIP (UK Independence Party) to second place and he can´t see how the news is positive for GBP. He notes that the collapse of UK PMI has helped encourage the GBP bearish majority.