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- GBP/USD: Brexit deal not to provide a sustained boost for sterling – MUFG
GBP/USD: Brexit deal not to provide a sustained boost for sterling – MUFG
FXStreet reports that all eyes remain on the key Brexit meeting between PM Boris Johnson and European Commission President Ursula von der Leyen on the ongoing negotiations due later today, as per MUFG Bank.
“PM Johnson is scheduled to have a call with Ursula von der Leyen today and at this stage of intense negotiations we would view this as a positive sign.”
“What is important to emphasise in explaining why we do not believe GBP will get a sustained lift if/when a deal is reached is that there is still likely to be significant disruption at borders even if a deal is done.”
“There is set to be considerable disruption and frictions on trade that may well still be under-estimated by the markets that will likely curtail the period of GBP appreciation following a likely deal over the coming weeks.”
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