GBP: Frther Signs Of Compromise On Brexit; Scope For GBP To Regain Ground – MUFG

0

The British pound jumped above 1.3000 after Barnier said that reaching a deal is realistic within 6-8 weeks.

Here is their view, courtesy of eFXdata:

MUFG Research discusses GBP outlook and notes that the pound has been one the best performing G10 currencies so far this month driven by a modest pullback in Brexit risk.

“There has been another encouraging report in today’s FT entitled “EU ready to give Barnier mandate to close Brexit deal”…

The developments support our view that a “No Deal” outcome remains unlikely. We see scope for the pound to strengthen further as the current Brexit risk premium is pared back,” MUFG argues.

For lots more FX trades from major banks, sign up to eFXplus

By signing up for eFXplus via the link above, you are directly supporting Forex Crunch.

Get the 5 most predictable currency pairs

About Author

Yohay Elam – Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I’ve accumulated. After taking a short course about forex. Like many forex traders, I’ve earned the significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I’ve worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.