Citibank: ‘No Deal’ Brexit will be avoided

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.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.