- Analytics
- News and Tools
- Market News
- Positive developments for the Pound, more of this as the year unfolds– MUFG
Positive developments for the Pound, more of this as the year unfolds– MUFG
In the view of economists at MUFG Bank, we may have reached “peak pessimism” for the UK and the Pound. Therefore, the outlook in 2023 is somewhat brighter.
Positive developments emerging
“Much greater political stability this year than last is one factor here and we can very likely assume that PM Sunak will bring greater credibility after the turmoil of 2022. With that comes the probability of greater fiscal credibility too. Furthermore, the drop in natural gas prices, if sustained, will greatly add to fiscal credibility as well.”
“Another consequence of having Rishi Sunak at No. 10 is the prospect of better relations with the EU and with that a possible deal to break the deadlock regarding the Northern Ireland Protocol.”
“Since the run-in to the Brexit referendum and beyond there have been very few periods of Leveraged and Asset Manager positioning combined being net long GBP. When that does happen, those periods have coincided with GBP appreciation. We are now currently close to turning to net long GBP.”
© 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
