Sterling is so volatile thanks to Brexit that it could slump or surge higher, expert warns

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Sir Mervyn King, Former Governor of Bank of England.

The process has received criticism with the former Bank of England Governor Mervyn King slamming the preparations as “incompetent.” A Brexit supporter in 2016, King told the BBC in an interview Wednesday that the government had weakened its bargaining position by not being prepared enough.

“We haven’t had a credible bargaining position, because we hadn’t put in place measures where we could say to our colleagues in Europe, ‘Look, we’d like a free-trade deal, we think that you would probably like one too, but if we can’t agree, don’t be under any misapprehension, we have put in place the measures that would enable us to leave without one’,” King told the BBC.