The British pound and U.K. financial assets will surge on a victory by Prime Minister Boris Johnson, but the relief for the Brexit-ravaged U.K. currency will be short-lived, warns the CEO of one of the world’s largest independent financial advisory organizations.
The warning from Nigel Green, founder and chief executive of deVere Group, comes as sterling hits its highest level since April as Johnson’s Conservatives hold polling leads ahead of Thursday’s general election.
In early Monday trading, the pound was recently up 0.25 percent on the U.S. dollar, reaching a high of $1.318. It jumped by a similar margin against the euro, with one pound buying 1.1902.
Green noted, “The bounce in the pound is caused by the increasing certainty of a Conservative majority being delivered by Thursday election. Should Mr. Johnson be returned as PM, the pound can be expected to reach $1.35.
“A hung parliament would intensify current uncertainty, due to there be
