HSBC: No deal Brexit likely to result in GBP bounce

Sandeep Kanihama FXStreet Contributor

HSBC analysts are suggesting that GBP is likely to stabilise, or even see a modest bounce, if Parliament votes against ‘no deal’ Brexit on 13 March, which is a broad consensus in media (e.g. Reuters, 13 Mar), but a confirmation would be beneficial for the currency

Key Quotes

“Members of the UK Parliament (MPs) have already voted, by a margin of 8, in favour of a prior amendment to show their opposition to ‘no deal’ Brexit.”

“The more MPs voting against ‘no deal’ Brexit, the better it would be for the GBP in the short term.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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