Rabobank Says Any Pound Rally Limited by Ongoing Brexit Uncertainty

The transcript discusses the British and German governments' decision to ease key demands in Brexit negotiations, leading to a temporary rise in the pound. However, the lack of detailed commitments in the withdrawal deal means continued uncertainty for sterling. The potential outcomes of Brexit, including a hard or soft exit, are explored, with implications for market reactions. The euro's vulnerability to emerging market risks is also considered, with the dollar expected to perform better.

What are the uncertainties that could affect the value of sterling in the future?

What factors could lead to a relief rally for the pound according to the discussion?