Westpac: sterling weakness continues as Brexit deal unlikely
Australian bank maintains long-held bearish outlook on pound
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The pound will probably remain weak for the foreseeable future because the prospect of a divorce deal between the UK and the European Union is unlikely, says Sean Callow, a senior currency strategist at Westpac.
“For some time, we’ve thought there was probably just a bit too much hope in the market that sanity would prevail and that a way of avoiding a hard Brexit [could be found],” says Callow.
The likelihood of
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Sterling’s future is still very dependent on Brexit-related developments, the bank says
