Here is a snippet from Credit Agricole on sterling

On Brexit ;

  • We still expect to get more tangible evidence of the positive impact on business confidence from the abating political risks later in the U.K. this month
  • risk of a no trade deal Brexit still looming large on the horizon,

and impact on the economy:

  • any rebound in the UK PMIs could be muted at best

(CA nailed that … UK December final manufacturing PMI 47.5 vs 47.4 prelim)

To wrap up on the pound:

  • GBP remains buy on dips for now vs both USD and EUR

(CA comments via Bloomberg)