Posen: Nothing Good Can Come From Brexit
The pound’s reaction to this week’s gross domestic product report provided an insight into currency traders’ attitude to Brexit. Sterling fell on Thursday, even after the first growth data to cover the period since the June 23 referendum came in ahead of analysts’ predictions. That underscored how the U.K. currency tends to shrug off economic good news and instead declines on concerns surrounding Britain’s exit from the European Union. A Citigroup Inc. index showed that economic reports have generally beaten forecasts since the vote, yet the U.K. currency has tumbled 18 percent. Peterson Institute President Adam Posen discusses with Nejra Cehic and Manus Cranny on "Bloomberg Daybreak: Europe."
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