Saxo Bank: sterling would reach parity with dollar under Corbyn as UK’s PM

Campaign of renationalisation and fiscal expansion would widen the twin deficits to 5% of GDP and spur inflation

Photo of Steen Jakobsen
Steen Jakobsen: our outrageous predictions are “events and market moves deemed outliers with huge potential for upsetting consensus views”

Sterling would tumble to parity with the dollar if a Labour government under Jeremy Corbyn assumes power in the UK in 2019, on the promise of comprehensive progressive reform and a referendum on a new Brexit deal, says Kay Van-Petersen, a global macro strategist at Saxo Bank.

This is one of Saxo Bank’s 10 outrageous predictions for 2019, in which the Danish bank outlines a set of highly unlikely events that could have an immense impact on the market if they took place.

“It is important to

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: