Wednesday, 11 Dec 2019 07:35 AM MYT
Major banks including Barclays and HSBC also plan to deploy extra staff through the night, not just in London but also on trading floors in New York, Hong Kong and Singapore, to make sure they’re constantly on call for clients. “I just basically cancelled all holidays for our trading team next Friday, because we had some people actually who tried to take leave, this has all been cancelled, which gives you an idea about what I expect on that day,” said Marco Pabst, chief investment officer at big Swiss private bank UBP.
While the prospect of a second Brexit referendum could be a positive for sterling, countering factors could be Corbyn’s policies to nationalise parts of the economy, as well as further uncertainty as Brexit is delayed once more. Opinion polls have consistently shown the Conservatives holding a healthy lead, yet the pollsters failed to accurately call the last two British elections and dramatically dropped the ball on Brexit and Trump.
“Obviously it’s not easy to stay up all night and the small hours are the hardest bit, but the adrenaline keeps you going.”Sterling will be the first to react to the early results, according to market players, with the pound versus the dollar and euro the key crosses to watch.
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