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- GBP/USD: Northern Ireland tensions and Scotland’s elections to weigh on the pound – ANZ
GBP/USD: Northern Ireland tensions and Scotland’s elections to weigh on the pound – ANZ
FXStreet reports that ANZ Bank said that the potential for difficult domestic politics amid Brexit uncertainty raises questions over sterling’s path in the medium term.
“We expect calm heads will prevail in the issues over the Northern Ireland issues and that politicians on all sides will work hard to resolve the situation. There must be a pragmatic solution to border checks. In Scotland, we must wait for the outcome of the 6 May elections. Despite looming large, a referendum on Scottish independence is unlikely in this UK Parliament, if only because it is not to Johnson’s advantage.”
“Both issues have the potential to temper positive sentiment towards sterling, and it will be important to monitor how they develop in coming weeks.”
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