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The Bank of America predicts the pound will rally in the upcoming months
Top strategists Athanasios Vamvakidis and Kamal Sharma said: “The pound looks cheap. We think the start of the countdown to Brexit may prove to be the low point.
“We have no doubt that many political hurdles lay ahead for the pound but we doubt that the markets will be in a perpetual state of panic over every Brexit-related headline.”
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Stephen Jen from Eurizon SLJ Capital
Stephen Jen from Eurizon SLJ Capital, an adviser to sovereign wealth funds said: “Britain has a fantastic culture and economy.
“It is leading the world in reform over the next generation and it is going to thrive. I think sterling will end up being the Swiss franc on steroids.
May's Brexit speech: World reacts LIVE Tue, January 17, 2017
Politicians and celebrities tweet their reaction as Theresa May unveils her 12 point plan for Britain leaving the EU.
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President of the European Council, Donald Tusk tweets his frustration.
“What is extraordinary is that Britain and America have seen the best growth rates since in the global financial crisis yet they are the ones going through a political revolution.
“What they have understood is globalisation is a tussle between the owners of labour, the owners of capital, and the owners of technology, and they are facing up to this first.”
After the Remain campaign’s scare tactics regarding the UK economy in the wake of Brexit the Bank of England will be pleased with the vote of confidence.
Sterling is climbing and should soon reach its post-Brexit level of $1.35 and might climb further yet provided common sense prevails.
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There is reason to be bullish about the UK's financial future
Upcoming elections in Italy, Holland and France could hinder the Euro and highlight divisions throughout the continent.
The Bank of America said: “The markets have essentially priced in a ‘hard Brexit’ already.”
If it wasn’t for the doom-mongering Brexit forecasts the pound would be doing far better already based on differences in interest rates strong bond yields.
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