Fitch: No-deal Brexit disruption is still a risk for UK corporates

Eren Sengezer FXStreet

In a recently published report, Fitch Ratings argued that a no-deal Brexit disruption was still a risk for British corporates.

"In a longer-term, extended period of trading on WTO terms would act as a drag on British companies' performance due to tariff impact, non-tariff barriers," Fitch said, per Reuters. "Current end-October exit date also creates fresh challenges for the United Kingdom (UK) corporates."

"The impact of a no-deal Brexit will be highly dependent on the preparedness of the private sector and on the response of the EU authorities," Fitch summarized.

The GBP/USD pair largely ignored Fitch Ratings' publication and was last seen trading at 1.2354.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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