British Members of Parliament are set to vote on Tuesday whether to accept or reject Prime Minister Theresa May's revised Brexit deal, ahead of the U.K.'s scheduled March 29 departure from the EU.
A"real change in clarity" regarding Brexit could cause a rare rally for both sterling and U.K. stocks, one strategist told CNBC Tuesday.Speaking to CNBC's"Squawk Box Europe" Tuesday, Willem Sels, chief market strategist at HSBC Private Bank, said the outcome of the vote could spark a rally across U.K. assets.
"People have not had the confidence to go into U.K. assets, our clients do not want to stick their neck out at this point in time. But if there was a real change in clarity then you could have the two moving together upward — could do the trick." Sterling rallied against the dollar during early trade Tuesday, but plummeted later in the session after U.K. Attorney General Geoffrey Cox admitted some legal risk remained in Theresa May's revised Brexit deal.
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