Vladimir Miklashevsky, Senior Economist at Danske Bank, assessed the near term prospects for the Sterling.
Key Quotes
“Tuesday was yet another one of volatility for GBP, where initial appreciation was reversed on the news that UK’s May will meet with the 1922 Committee today”.
“Reports claim that only a few more letters of no confidence in May is required before a leadership challenge is triggered. Thus, expect GBP to be extraordinarily volatile today”.
“We target EUR/GBP at 0.88 in 1M with risks skewed on the upside”.
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