Pound compared to an emerging market currency
GETTY Due to the Brexit talks the pound has been compared to an emerging-market currency.
The Great British Pound now trades like an emerging market currency. Jim Leaviss, head of retail fixed interest at Prudential
Sterling had been on a surge following the success of the Brexit talks last week. This was apparent as the pound rose by 0.34 per cent against the euro on December 8. The value of the British currency is firmly linked to the outcome of the UK’s talks regarding the exit from the EU. Due to the peaks and troughs brought on by the Brexit talks the pound has been compared to an emerging-market currency. Jim Leaviss, head of retail fixed interest at Prudential tweeted: “The Great British Pound now trades like an emerging market currency.”
The UK currency is fluctuating following clashes between David Davis and the Irish government. The Brexit secretary said on Sunday that the recent exit agreement over the Irish border was a “statement of intent” and was not legally binding. The Irish government responded with a warning that: “both Ireland and the EU will be holding the UK to the phase one agreement”. The pound is now the eighth-most volatile across major emerging and advanced economies.
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