Boris’s Trumpian Pounding
(2 min read)
‘The worst thing you can possibly do in a deal is seem desperate to make it’ and ‘know when to walk away from the table’ are perhaps two pieces of advice Prime Minister Boris Johnson could be taking to heart from Donald Trump’s famous 1987 book ‘The Art of the Deal’. The pound has taken notice plunging to new lows. Both GBP/USD and EUR/GBP are now only 2-3% away from their valuation extremes that we flagged in our bearish sterling note from last week. And assuming a Trumpian approach to trade negotiations, the bumpy ride for the pound will likely continue in the near term...
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