Sterling sags as investors re-focus on a no-deal Brexit. OlgaCotaga reports
LONDON - The pound was weaker on Thursday as the euphoria of December’s election gave way to anxiety over the risk of a no-deal Brexit at the end of 2020.
The UK has a year to strike a trade deal. The deadline can be extended beyond December 2020, but Prime Minister Boris Johnson has said he will not ask for an extension, despite warnings it would be hard to agree a deal in just under a year. “At the moment there is still significant uncertainty about the macroeconomic direction over the next few months and so we expect the pound could be more sensitive to data releases going forward,” Hardman said. If sentiment improves and investment picks up, he said, “this would be positive for the pound.”
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