Sterling rises as political events lower chance of no-deal Brexit

Once again Brexit headlines overshadowed all other developments as far as the pound was concerned


Once again Brexit headlines overshadowed all other developments as far as the pound was concerned. However, it should be noted that the UK labor market so far shows little signs of any negative effects of Brexit uncertainty. The labor report for the last quarter of 2018 showed strong job creation combined with healthy wage gains. While Sterling was mostly buoyed by the news that 11 Europhile Labor and Tory MPs had resigned from their respective parties, the strong jobs data certainly helped. Next week focus will be on Prime Minister May speech on Tuesday.

GBP/PLN (18/02/19 - 25/02/19)

Source: Thomson Reuters Datastream Date: 25/02/19

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

Keywords Ebury