HSBC: No deal Brexit likely to result in GBP bounce

HSBC analysts are suggesting that GBP is likely to stabilise, or even see a modest bounce, if Parliament votes against ‘no deal’ Brexit on 13 March, which is a broad consensus in media (e.g. Reuters, 13 Mar), but a confirmation would be beneficial for the currency

Key Quotes

“Members of the UK Parliament (MPs) have already voted, by a margin of 8, in favour of a prior amendment to show their opposition to ‘no deal’ Brexit.”

“The more MPs voting against ‘no deal’ Brexit, the better it would be for the GBP in the short term.”