Tags: goldman | brexit | pound | investors

Goldman Sees 'Big Finish' for Brexit, Opportunity in Pound

missing piece from a european jigsaw puzzle revealing british flag and brexit question
(Charlieaja/Dreamstime)

Tuesday, 02 April 2019 08:37 AM EDT

Britain’s pound presents the biggest opportunity within developed-market currencies with a probable break-the-Brexit logjam moment coming soon, according to Goldman Sachs Group Inc.

“We’re coming to a big finish here,” Zach Pandl, Goldman’s co-head of global foreign exchange and emerging market strategy, said on Bloomberg Television after the U.K. Parliament again rejected all alternatives to Prime Minister Theresa May’s unloved deal to leave the European Union. “We do think we’re making progress despite these failed votes.”

Instead of a prolonged stalemate or a chaotic no-deal scenario, Pandl said a soft Brexit approach, which may include a permanent customs union packaged with a second referendum, could come within the next day or two.

“Sterling is maybe the biggest opportunity among developed market exchange rates today,” Pandl said. The pound slipped 0.4 percent to $1.3050 as of 9:00 a.m. in London, at the weaker end of its recent range.

Parliament rejected a proposal to stay in the EU’s trading arrangement , known as the customs union, by just three votes. It could potentially be voted on again Wednesday.

Separately, Goldman has closed its short recommendation on the U.S. dollar against the Japanese yen, Pandl said.

“We think we’ve seen enough data to indicate that the global industrial cycle at least on the margin is picking up,” Pandl said. “It’s a little bit too risky to be betting on yen appreciation over the short run.”

© Copyright 2025 Bloomberg News. All rights reserved.


StreetTalk
Britain's pound presents the biggest opportunity within developed-market currencies with a probable break-the-Brexit logjam moment coming soon, according to Goldman Sachs Group Inc.
goldman, brexit, pound, investors
232
2019-37-02
Tuesday, 02 April 2019 08:37 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved