Senior Analyst at Danske Bank Mikael Milhoj noted the Sterling should remain in centre stage as Brexit talks are expected to resume in the near term.
Key Quotes
“The GBP starts the week on a weak note after UK Prime Minister Theresa May ruled out a second referendum on Brexit in an article for The Sunday Telegraph newspaper”.
“While her stance on a second referendum is fully expected going into the final negotiations and not least all given the internal pressure as May struggles to maintain a majority, price actions underscore that the GBP is likely to remain very sensitive to Brexit news in the coming months”.
“We see EUR/GBP risks skewed to the upside ahead of the UK Conservative Party’s annual congress, which starts on 30 September”.
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