Saxo Bank chief economist Steen Jakobsen questions the importance of the Brexit vote.

Firstly, the UK economy has been running with a twin deficit for decades and this means that sterling has weakened by 1% year-on-year.

Secondly, the UK economy is overdependent on banking and the real estate sector.

Thirdly, the UK economy has become over reliant on foreign investments. In summary, Jakobsen means that the Brexit vote alone is not enough of a reason to short sterling.

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