GBP has been suffering from renewed No-Deal Brexit speculation. The Grieve amendment was rejected and the no-deal option is still on the table. PM Johnson emerged in a TV debate with his opponent, Hunt, shortly after the vote. A no-deal Brexit would be “vanishingly inexpensive” to the British economy, said Johnson, if mishandled.
“The crucial thing is to prepare… It’s vanishingly inexpensive if you prepare.The markets do not like this stance and the higher odds of a no-deal Brexit.
At the same time, NZD is in splendid shape and we like further downside in GBPNZD.