Market news
05.09.2019, 09:41

GBP strength expected to be short-lived - ING

Petr Krpata, the cChief EMEA FX and IR strategist at ING, notes the pound has benefited from the mix of (a) the UK Parliament legislating against no deal Brexit by the 31 Oct deadline and (b) stretched short positioning. 

  • "Still with early elections looming (it now seems just a question of timing – i.e. before or after the October deadline), we expect GBP strength to be short-lived and the pound to soon re-start a weakening trend given the election uncertainty and non-negligible risk of a no-deal Brexit should the Conservative party under PM Boris Johnson win a Parliamentary majority. Indeed, recall the GBP price action earlier in the year, when GBP strengthened first on the hopes of the Article 50 extension (as is happening now) but eventually depreciated meaningfully as UK politics became even more fragmented and the risk of a no-deal Brexit rose. We look for a similar roadmap this time around."

© 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.

AML Website Summary

Risk Disclosure

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.

Privacy Policy

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
Feedback
Live Chat E-mail
Up
Choose your language / location