Brexit
December 28, 2020
Brexit: It’s not over yet
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At the eleventh hour a Brexit trade deal was reached.
British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen have penned a trade deal between the UK and EU following months of talks and tense negotiations.
The deal will come into force this week when the UK finally leaves the European Union after 47 years.
Of course, stocks will be buoyed by the deal and the pound strengthened, but this does not signify the end of Brexit.
Now there will be a period of major readjustment as the UK economy moves away from the
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July 29, 2020
More and more Brits are moving to buy dollars due to weakness in the greenback coupled with fears over a plummeting pound.
The Dollar Index fell 0.5% on Monday, trading at levels we’ve not seen in over two years.
This sharp dollar sell-off is viewed by internationally-minded Brits as an opportunity to purchase dollars as they fear a steep plunge in the pound in the event of a no-deal Brexit – which is looking increasingly to be the case.
The dollar is being impacted by
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March 26, 2020
Coronavirus is likely to deliver the bloodiest nose to the pound, more so than Brexit and the financial crash of 2008-2009.
The pound dropped to its lowest level on record on Tuesday against the currencies of the UK’s major trading partners.
The Bank of England announced that the exchange rate, which is gauged against a basket of currencies corresponding to Britain’s trade flow, declined to 72.9. There was a slight increase on Wednesday to 74.4.
These
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October 22, 2019
Although Sterling remained largely unmoved, John Bercow’s refusal on Monday to allow a Meaningful Vote on the new Brexit deal will place further downward pressure on the UK economy.
Sterling experienced a minor downside knock following the decision by the Speaker of the House of Commons, but there was no big surprise.
This highlights that traders are patiently biding their time as they forecast the European Union will allow a Brexit extension in the coming
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August 29, 2019
What a day it’s been in British politics. The Queen has accepted the Prime Minister’s request to suspend parliament from mid-September, therefore reducing the time available to MPs to stop a no-deal Brexit.
The Brexit-battered pound has since taken another beating thanks to Boris Johnson’s highly polemic parliament suspension.
Sterling has fallen more than 0.5% against both the euro and U.S. dollar following the decision, and the pressure will remain
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August 23, 2019
Boris Johnson is now back in the UK following his trips this week to Berlin and Paris, and it would appear that the PM’s Brexit strategy is working.
However, this is mainly due to the threat of a recession in Germany and the need for a good and fair deal for both sides.
Following his meeting with German Chancellor Angela Merkel in Berlin, it looks as though Boris Johnson has brought her closer to his viewpoint on Brexit.
Merkel challenged Johnson to
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June 20, 2019
Sterling and UK assets could decline further on Tory leadership contenders’ lack of Brexit plan
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As the Tory leadership race is about to come down to the final two contenders, the pound and UK assets can be expected to fall further.
With Rory Stewart knocked out of the contest in the third round yesterday, the final four - Boris Johnson, Jeremy Hunt, Michael Gove and Sajid Javid – will be whittled down to three in a secret ballot later today.
There will then be an additional vote to select the final two, one of whom will be chosen as leader, and of
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June 7, 2019
Should Boris Johnson be the next UK Prime Minister, we can expect the pound to be driven down even further.
Johnson is the favourite to win the Tory leadership contest, securing the support of over 40 Conservative MPs, placing him streets ahead of his rivals.
As such, should he get to Number 10, the pound will be delivered another bloody nose.
Additional downward pressure will impact sterling in this case due to the increased probability of Boris Johnson taking Britain into
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May 17, 2019
Wealthy Brits and rich international investors are more fearful of a Corbyn government than they are of Brexit, with a growing number of them contemplating moving their wealth overseas.
Indeed, since the start of 2019 an increasing number of deVere clients have been telling our advisers that they fear the harmful effects of a Jeremy Corbyn-led government more so than Brexit, in regard to their wealth.
As deVere’s international investment strategist, Tom
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March 19, 2019
Brexit has caused significant damage to UK financial services, irrespective of what happens now
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Regardless of what happens now, Brexit has exacted unprecedented damage on Britain’s financial services industry.
Regardless of what happens now, Brexit has exacted unprecedented damage on Britain’s financial services industry.
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March 13, 2019
Another day closer to Brexit, yet another rejection for the Prime Minister.
After Theresa May’s deal was again rejected in the Commons on Tuesday evening by 149 votes, Brexit must now be put back to the people, as well as the 700,000 British expats who were denied the vote back in 2016.
Another day closer to Brexit, yet another rejection for the Prime Minister.
After Theresa May’s deal was again rejected in the Commons on Tuesday evening by 149 votes, Brexit must now be
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January 15, 2019
Today’s the day. A crucial day for Brexit. The day of reckoning in Westminster as MPs are getting ready to vote later on whether to accept or reject the Prime Minister’s Brexit deal.
However, as I was quoted by The Express and Yahoo Finance, amongst other media this morning, should Theresa May’s deal be passed today, UK financial assets and the pound will rally.
Today’s the day. A crucial day for Brexit. The day of reckoning in Westminster as MPs are
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