Bailey says that risks are very much to the downside
- Strongly hopes that there will be a Brexit deal
- Post-Brexit transition will not be easy
- Says UK Q3 activity probably 7-10% below pre-virus levels
He's not really commenting much on policy so the pound is little fazed by the above remarks. Cable is sitting near session highs still as buyers are looking to keep a break above the 100-hour moving average currently:
But the 1.3000 handle still poses key upside resistance for the time being.
