The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
FX Trader, Loonieviews.net
Summary: Sterling rallied this afternoon on news of a deal-seeking speech by the British prime minister. But the market soon about-faced when traders remembered that there's no such thing as a quick fix for Brexit.