Too soon to sound the “all clear” on Brexit risks

In the last few days there has been a lively debate in the UK media over whether Brexit ‘Armageddon’ has been avoided. Our view is that it is far too early to say for sure and that sterling in particular is still vulnerable to a further reassessment of the relative prospects for US and UK interest rates. Nonetheless, recent developments in the UK economy and markets have, for the most part, been reassuring.

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