GBP: Brexit focus restrains GDP – ANZ

Research Team at ANZ, suggests that the UK referendum on EU membership continues to dominate sentiment towards sterling and has weighed the economy.

Key Quotes

“Opinion polls show a rise in support for the ‘Remain’ campaign, but the high level of undecided votes is adding to uncertainty.

The BoE suggests 50% of sterling’s slide this year is down to Brexit anxiety. PPP puts GBP around 15% undervalued vs USD.”