Citibank research team suggests that they are expecting a ‘No Deal’ Brexit will likely be avoided, which is going to be the most Sterling negative scenario and having a probability of other events such as a General Election in the near term increasing significantly.

Key Quotes

“They expect the most probable outcome is for an extension to the negotiating period beyond the March 29 deadline or agreement to a PM May’s proposed deal.”

“Negotiating between the U.K. & Europe continues, with eyes on the scheduled European Leaders summit (March 21) as a potential last chance concession occurring ahead of the current Brexit deadline.”

“The process remains volatile, with Sterling reacting to news-flow, with Citi Analysts highlighting the intraday price action is almost unforecastable.”

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