We Are Short-Term Bearish on the Pound, Says ING's Patel

The video discusses the pound's role as a check on the government during Brexit negotiations, highlighting short-term bearish and medium-term bullish outlooks. It examines the risks of a no-deal Brexit, emphasizing political games and low probability of a shift to WTO rules. Market predictions suggest potential paths for the pound, with investors focusing on hedging risks. Seasonal effects and political noise are also considered, particularly in August and September.

What role is the pound playing in the current political climate regarding Brexit?

• Official government supporter

• Neutral observer

• Unofficial opposition

• Economic leader

What is the medium-term outlook for the pound according to the discussion?

• Neutral

• Volatile

• Bullish

• Bearish

What is the perceived probability of a shift to WTO trading rules?

• High

• Low

• Certain

• Moderate

When is clarity expected regarding the pound's direction?

• In the next month

• By the end of the year

• By next summer

• In two years

What seasonal trend is noted for the pound in August?

• Weakness against the euro

• Volatility against the yen

• Stability against all currencies

• Strength against the dollar