Brexit Process Holds 'Plenty of Twists and Turns' for Pound, CIBC Says

The transcript discusses the market's response to a potential hard Brexit, highlighting that the market has not fully priced in this risk. It explores the complexities of parliamentary actions, such as a no-confidence vote and the Queen's speech, which could influence Brexit outcomes. The discussion also covers market uncertainty, the fluid nature of base case scenarios, and potential resolutions that could impact sterling's value. The overall sentiment is that while there are risks, there is also potential for resolution and improvement in sterling sentiment.

What are the potential implications of a hard Brexit on the market according to the text?

How does the speaker perceive the current state of the sterling in relation to Brexit?

What does the speaker suggest about the likelihood of a no confidence vote in Parliament?

What is the significance of the Queen's speech mentioned in the text?

In what ways does the speaker believe the government is hoping for a negotiated resolution?