Goldman Sees Sharp Market Swings Regardless of U.K. Vote Result
- Bank says pound may fall as much as 11% after a Brexit
- One-week pound-dollar volatility rose to a record on Friday
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Britain’s European Union referendum next week will cause sharp markets swings whatever the result, according to Goldman Sachs Group Inc.
The U.S. bank is warning clients that volatility will continue regardless of whether the country votes to remain or leave the EU. adding that, while it is “fairly confident” of the direction of currencies under difference scenarios, assessing the size of the moves is more difficult.