- Analytics
- News and Tools
- Market News
- GBP/USD to nosedive 5%-10% on Brexit deal failure – MUFG
GBP/USD to nosedive 5%-10% on Brexit deal failure – MUFG
FXStreet reports that according to Lee Hardman, Currency Analyst at MUFG Bank, Brexit talks have yet to yield a breakthrough and a failure is set to down sterling by 5% to 10%.
“Pound weakness has been driven in part by reports that some EU countries are insisting that ‘no deal’ is better than a bad deal.”
“A head-to-head meeting between chief Brexit negotiators Michel Barnier and David Frost today has been described as a ‘moment of truth’ by one EU official. If there is thought to have been sufficient progress, the UK team could remain in Brussels over the weekend. Observers still expect a deal early next week or in the first week of December.”
“There is likely to be a much larger pound move to the downside if both sides fail to reach a deal (-5% to -10%), while we expect a modest move to the upside for the pound if a deal is finalized (+1% to +4%).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
