UK: Politics is Going to be More Important than Economics - SocGen
Kit Juckes, Research Analyst at Societe Generale, suggests that the politics is going to be more important than economics for the next three months in the UK and so far, both major political parties seem pretty keen on tearing themselves apart from within.
Key Quotes
“The resignation of Iain Duncan Smith, the work and pensions secretary, will simply add another layer of political risk to sterling's prospects.’Brexit' continues to dominate conversations, and the most alarming comment I've heard so far was from a business student at a talk I gave last week: "I'd quite like the Uk to leave the EU, just to see what happened'.
Young educated Londoners are natural in favour of Europe and if they're torn between rebelling and not bothering to vote at all (older voters are much more likely to turn up at the ballot box, but also more likely to vote to leave the EU), that doesn't bode well.”
(Market News Provided by FXstreet)
