Steven Bell, economist at BMO Global Asset Management, said he was confident the triggering of Article 50 would not cause a shift in sterling’s value and was not fazed by Tuesday’s fall.
“I cannot believe that triggering Article 50 is an event given that everyone knows it was going to happen. I think Nicola Sturgeon’s announcement is a bigger event,” he said.
“Hard Brexit is a consensus, but I think the problems of getting a deal will be greater than even the pessimists predict.”
Bell said he did think the pound could fall further, but didn’t think Tuesday’s fall was “dramatic” and said personally he thought it could be a buying opportunity.
He said: “We do think sterling is going lower, but personally I’m neutral. We have been down at these levels before and typically it has been a good buying opportunity.”