New lows expected for sterling before Brexit fears settle

More bad news could be on its way

Brexit gilt fall
Political angst: "All the cards are held by the EU," says Chandler

The full impact of Britain leaving the European Union has not been priced into the foreign exchange market as yet, because of uncertainty over what comes next. As a result, the pound could dip even lower before participants are convinced the worst is over.

That's the sentiment of panellists at the 13th FX Week USA conference, held at the Metropolitan Club of New York, who said politics will pose a bigger problem than economics for the UK, and they are expecting a forceful response from the EU

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