No Brexit deal means ‘10% drop in sterling’

Sterling could relapse by almost 10% against the dollar if a “no deal” Brexit becomes likely, keeping investors wary of buying UK assets, Northern Trust Asset Management said.

Sterling could relapse by almost 10% against the dollar if a “no deal” Brexit becomes likely, keeping investors wary of buying UK assets, Northern Trust Asset Management said.

Northern Trust’s EMEA and Asia-Pacific chief investment officer, who helps manage around €857m in assets, told the Reuters Global Investment Outlook Summit the UK crashing out of the EU without a trade deal in place could mean sterling would be hit again.