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Thomson Reuters
Dec 07 - 08:36 AM
GBP/USD - COMMENT-Only Question For Sterling: Sell Today Or Sell Tomorrow?
First appeared on eFXplus on Dec 07 - 05:40 AM

Whatever the outcome of next week's parliamentary vote on Brexit, it's worth betting on a weaker pound.
Bad news hits the pound immediately; good news just carries it to levels worth selling.
The inability to settle the split from the European Union quickly, if ever, is the pound's Achilles heel, and the vote next week is set to add to the uncertainty barring a sustainable sterling rise.
Of course, the pound can rally as has been seen frequently when news is deemed good, but time and again it's come back down.
The risk that negotiations will run beyond the initial two-year period is high, and the indecision is taking its toll.
The housing sector is poised to fall, the key service sector is on the brink of contraction, a weak pound has done little good with trade and current deficits still big while manufacturing and industrial production has been very weak.

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