GBP underwent correction in the light of the difficulties faced by May - Natixis

The GBP underwent correction in the light of the difficulties that T. May is facing in forming her coalition with the DUP, suggests the research team at Natixis.

Key Quotes

“Also, due to the lack of visibility on how negotiations will the EU will develop even if T. May is showing herself to be more open with her proposal of a “settled status” for European residents in the United Kingdom. In the short term, we will continue to keep tabs on T. May’s negotiations with the DUP as well as those with the EU. EURGBP should appreciate gradually to 0.90 in coming months.”