Wells Fargo sees pound upside

Sterling could move higher against the dollar, even if the December 11 UK parliamentary vote on Brexit is rejected

Houses of Parliament from above
Parliamentary vote: markets price in Theresa May’s Brexit deal being rejected, with expectation of second vote

CLICK HERE TO DOWNLOAD THE PDF (only available to FX Week Corporate subscribers)

Sterling could have scope for recovery, even if UK prime minster Theresa May’s Brexit deal is voted down by parliament on December 11, as markets have already priced in this outcome,” says Erik Nelson, a currency strategist at Wells Fargo.

The upside continues to persist because the markets do not view a failed vote as equivalent to a no-deal divorce. Instead, pricing indicates a second attempt at the vote or even

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Week account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: