General World News

HSBC: The pound is ‘neither strong nor stable’

Mark Carney

LONDON — HSBC is bearish on the pound and believes the risks associated with a “hard” Brexit will see the currency weaken immediately after the general election on June 8 whatever the outcome.

Writing on Tuesday, HSBC strategists David Bloom and Daragh Maher forecast that the pound would reach parity with the euro and 1.20 against the dollar by the end of 2017.

They said that the currency “remains vulnerable to a potentially acrimonious negotiation process with the EU and the lingering possibility of a ‘no deal’ outcome.”

The pair also pointed to a continued widening of the trade deficit and signs that read more >>>

Source:: BusinessInsider.Com