The Pound is already pricing in a hard road towards Brexit, and as a result looks very cheap against the Euro.
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What matters for the Pound's outlook is that the E.U. is looking increasingly willing to let the Brexit deadline of March 2019 lapse in order to reinforce the message of European supremacy.
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Weaker house prices have seen the pound fall against all majors except for the dollar, which is currently weighed down by destruction in Texas, the fourth largest U.S. state by GDP, and uneas…
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“We believe that a lot of negatives seem to be in the price of the currency and thus expect a less pronounced sell-off from current levels.”
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Bets against Pound Sterling surged by $1.1BN in the space of a week according to the latest available data on foreign currency market positioning from the US Commodity Futures Trading Commission.
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A more conciliatory tone from the foreign secretary over the "Brexit Bill" supports an emerging narrative suggesting the pound may already have seen its darkest days.
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Neil Dwane, global strategist at Allianz Global Investors has said fast money appears to be behind the ongoing decline in Sterling but the Euro remains the most undervalued currency in the world, d…
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