mo4ch:>Expect a wild ride for the British pound – Professor Steve Keen | Mo4ch News

The UK Parliament is set to vote on Prime Minister Theresa May’s Brexit plan on Tuesday. Analysts expect losses for sterling if the deal is rejected.Professor of Economy, Steve Keen who is the author of Debunking Economics, told RT that it’s hard to say how the vote will affect the British currency but added “definitely, expect a wild ride,” while the markets are “completely dominated with speculation.”“With speculators gambling one can’t actually say whether it will have impact one way or the other,” he said.Also on rt.comWhat’s next for Brexit & Britain if UK parliament votes ‘no’ on Theresa May’s deal?“In general, I think the pound will be at least 30 percent lower than it had been,” Keen said, explaining “I think it is overvalued and that makes British manufacturing uncompetitive…”The professor also said that if the break with the European Union happens the pound will fall in value but “overall it won’t be a good thing or a bad thing” because it is already seriously overvalued…