Pound to Rally Higher in the Event of a Soft Brexit - Forex News by FX Leaders
Brexit Back in the Headlines

Pound to Rally Higher in the Event of a Soft Brexit

Posted Monday, July 8, 2019 by
Arslan Butt • 1 min read

According to a Reuters poll, leaving the EU with a deal in hand can help strengthen the Pound. However, a no-deal Brexit could weaken the Pound further in the coming months.

In May, the Pound fell to its weakest levels in two years against the Euro, while the price action remained somewhat muted as it waited for updates on Brexit. Currently, markets continue to wait to find out who the next Prime Minister in the UK will be, for guidance on which direction Brexit could take.

In the lead presently is Boris Johnson, a well-known Brexiteer who has repeatedly campaigned for Britain to leave the EU on October 31, even if it means leaving without a deal. The Reuters poll reveals that in the event Britain’s departure from the EU with a deal, GBP/USD could rally higher to touch anywhere between 1.30 and 1.36.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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