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Easing of Brexit Fears Helping in Sterling’s Surge - BBH
Research Team at BBH, suggests that the broad dollar weakness and some
apparently easing of Brexit fears helped lift sterling to two-month
highs near $1.4665.
Key Quotes
“The
technical indicators are constructive and consistent with additional
near-term gains. We suspect sterling can climb toward $1.4800, barring
some shock. Initial support may be near $1.45.
Local elections
on May 5 could show that despite the divisions within the Tory Party,
Labour is not yet capitalizing on it, which means it may win fewer than
average council seats. It means that should a Brexit vote create a
political crisis; Labour may not be in a position to secure a majority.”
