Back
2 Apr 2015
Sterling remains heavy, politics weighs – BBH
FXStreet (Barcelona) - The Brown Brothers Harriman Team comment that UK’s political scenario is getting complicated and uncertain day by day, which is keeping the pound pressured.
Key Quotes
“The disappointing construction PMI (57.8 vs 60.1 in February and 59.8 consensus) did not help, but the real focus is on the politics. Tonight in the UK, seven party leaders will debate on television. The polls continue to point to a statistical dead heat between the Tories and Labour. That makes a coalition government highly likely.”
“Outside of UKIP, the Tories do not have many allies. The Lib-Dems, the junior member of the governing coalition, appear to have been so weakened by participating in the government that it may not secure enough seats to produce another majority government.”
“Although the sharp decline in oil prices would have created a nightmare for an independent Scotland, the Scottish National Party, which is going to take nearly all of Labour’s seats in Scotland, injects another element of uncertainty into the mix.”
Key Quotes
“The disappointing construction PMI (57.8 vs 60.1 in February and 59.8 consensus) did not help, but the real focus is on the politics. Tonight in the UK, seven party leaders will debate on television. The polls continue to point to a statistical dead heat between the Tories and Labour. That makes a coalition government highly likely.”
“Outside of UKIP, the Tories do not have many allies. The Lib-Dems, the junior member of the governing coalition, appear to have been so weakened by participating in the government that it may not secure enough seats to produce another majority government.”
“Although the sharp decline in oil prices would have created a nightmare for an independent Scotland, the Scottish National Party, which is going to take nearly all of Labour’s seats in Scotland, injects another element of uncertainty into the mix.”