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Nigel Green, the founder and chief executive of deVere Group – one of the world’s largest independent financial advisory firms – has said in a statement sent to Financial Nigeria today that the British pound sterling appears undervalued.

“Since the Brexit referendum took place, the pound is down 14 per cent against the euro and 13 per cent against the US dollar compared to the day of the vote in June 2016,” said Green. “In the new environment, should a soft Brexit be delivered, there is a possibility that the pound could rise to pre-referendum levels.”

According to him, the longer the Brexit process takes, and it is clearly taking a long time, the closer the final relationship between the UK and the EU will be. “Against the backdrop of a likely soft Brexit, the pound currently looks undervalued,” he said.

Talks resumed this week between the two main political parties in Westminster following the Easter break. But despite the UK Prime Minister Theresa May securing an extension till October 31, 20019 from the EU, the Brexit impasse appears to remain intractable.
 
“When Brexit is finally delivered, investors are advised to be on the watch for a rally in the pound, UK stocks and a spurt in economic activity as sidelined household and business spending kicks in,” said Green.