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Goldman Sachs says pound levels now attractive

Reuters logo Reuters 9/14/2020
UK pound coins plunge into water in this illustration picture © Reuters/DADO RUVIC UK pound coins plunge into water in this illustration picture

(Reuters) - Odds of a damaging no-deal Brexit are "meaningfully lower" than the market is implying and for investors willing to look through short-term volatility, current sterling levels are attractive, investment bank Goldman Sachs said.

The bank said in a note late on Friday the market was pricing 40%-45% odds of Britain ending its post-Brexit transition period without reaching a free-trade agreement with the European Union.


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While those odds could rise further, Goldman Sachs said the UK government was aware how damaging a no-deal outcome would be to the economy.

"For investors willing to look through some near-term volatility, current levels for sterling longs now look attractive, in our view," it added.

(Reporting by Sujata Rao; Editing by Maiya Keidan)

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