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- EUR/GBP to trade at 0.92 on a no-deal Brexit outcome - ANZ
EUR/GBP to trade at 0.92 on a no-deal Brexit outcome - ANZ
FXStreet notes that Brexit-related trade anxiety has resurfaced over the past week. A ‘no-deal’ would slow the UK’s post-lockdown recovery. Economists at ANZ forecast EUR/GBP and GBP/AUD at 0.92 and 1.75 respectively.
“In the absence of an improvement in the trade talks, sterling is likely to remain under pressure.”
“Unless there is a compromise from both sides, the risks to investment and hiring from heightened trade uncertainty will rise. The policy mix is also unsupportive whilst, in a low inflation world, currency depreciation can help to boost competitiveness.”
“Our forecasts look for EUR/GBP to move towards 0.92 in coming months with GBP/AUD declining towards 1.75. Broad-based GBP weakness has been evident across the board and in the absence of a trade deal, that trend may extend.”
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