Brexit chaos affects Sterling

Sterling reacted badly last week to further signs that British politics is becoming chaotic ahead of the 31st October Brexit deadline. The Supreme Court dealt Prime Minister Johnson a serious blow, ruling that his suspension of Parliament was illegal.

While the immediate prospect for a no-deal Brexit has receded further, there are increasing signs that the uncertainty is starting to take its toll on the British economy. This week’s business activity PMIs should confirm this trend.

GBP/PLN (23/09/19 - 30/09/19)

Source: Bloomberg Date: 30/09/19

Author: Enrique Diaz-Alvarez, Chief Risk Officer at Ebury

Keywords Ebury