CIBC Says Brexit's Downside Sterling Risks Far Outweigh the Topside

The video discusses the complexities of binary risk in sterling, emphasizing the significant downside risks that outweigh potential upsides. It highlights the market's focus on the 125 and 123.5 levels, especially with the looming threat of a no-deal Brexit. The European Union's contingency planning is noted as more robust than the UK's, adding pressure on sterling. Additionally, euro sterling remains stable, partly due to euro weakness, affecting its potential to rise.

What preparations is the European Union making regarding no deal?

What factors are contributing to the euro's weakness as mentioned in the text?