Chance of hard Brexit on the rise, says Rabobank

Political uncertainty in post-Brexit period could limit pound gains

Brexit
Difficult divorce: for now, markets still expect a Brexit deal; a shift in consensus could expose the pound to selling

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Sterling could face intensified selling pressure if the likelihood of a no-deal Brexit in the divorce proceedings between the European Union and the UK increases. And while markets expect the two sides to reach an agreement, a shift in consensus may expose the pound to further weakness, says Jane Foley, head of FX strategy at Rabobank.

The UK currency has faced remarkably little downward pressure in recent weeks,

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