The Brexit headline to the post is the view from JP Morgan, in a nutshell
- Says GBP is no longer as cheap
- JPM like short GBP, particularly against CHF
- chance of end October Brexit deal are very low
- chance of a hard Brexit by January have increased
- BOE Saunders's tilt to dovish supports short GBP view
- Add these together and "we view risks to GBP tilted to the downside"
JPMorgan stop at 1.2450
Hourly candles GBPCHF:
