Wells Fargo sees pound upside
Sterling could move higher against the dollar, even if the December 11 UK parliamentary vote on Brexit is rejected
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Sterling could have scope for recovery, even if UK prime minster Theresa May’s Brexit deal is voted down by parliament on December 11, as markets have already priced in this outcome,” says Erik Nelson, a currency strategist at Wells Fargo.
The upside continues to persist because the markets do not view a failed vote as equivalent to a no-deal divorce. Instead, pricing indicates a second attempt at the vote or even
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Sterling’s future is still very dependent on Brexit-related developments, the bank says
