Calling a general election in the U.K. before Brexit could cause a financial crash, a strategist has warned.
Luis Costa, Head of CEEMEA FX and Rates Strategy at Citi, told CNBC's "Squawk Box Europe" on Friday that Britain "absolutely" didn't need an election amid the recent chaos around Brexit.
"There would be another crash," Costa said. "I believe elections will be seen as pretty bad by investors – it raises the risks of unwanted, unfriendly market shifts and sterling is not prepared for that as yet."
Sterling is down more than 7 percent since the start of the year. Currency analysts have predicted that the currency could remain volatile in the next few months due to the uncertainty surrounding the Brexit vote.
The currency has seen a lot of volatility since the U.K. voted to leave the European Union on June 23, 2016. While the initial moves on the day were dramatic, plunging from the highs of $1.50 to a 31-year low of $1.32, the currency is down nearly 13 percent since the Brexit vote.