breaking news on exactly what you were
discussing the UK and the the brexit
negotiations the United Kingdom it is
official to trigger brexit on March 29th
that's according to the Prime Minister
to resume spokesperson so put that in
your diary the official negotiations for
the UK's exit from the European Union
will begin on March 29th they want to
bring in the guest Isabel Mattia Largo
of Blackrock and of called David Cole of
a Julius bar head of currency research
still very much with us David I want to
begin with you the Brixton negotiations
set to officially begin next week
sterling negative drivers is this going
to be one even though we knew it was
coming I agree i mean i think this our
date Perseus or exit negotiation
actually starting is well discounted in
sterling we think the the only thing
which can drive sterling even lower and
we think this will happen is actually
that we see a reaction in terms of money
flows into the UK remember we have very
strong foreign direct investment flows
into the UK which are financing a huge
current account deficits around five six
percent in they have not slowed yet so
there have been no reaction yet we think
this will happen later in the Indian ago
she asian process and this will be a
renewed weakness for the pound so far we
think like all this talk about Harper
exit the soft brexit and more heartbreak
said actually negotiation or strategy of
the UK government is priced in the
depressed level of the currency is so
for now rather neutral outlook in the
shorter term and then negative in the in
the longer term