Despite being slightly down on the day, the pound is holding on to most of the gains achieved last week, trading just above $1.29. Markets are waiting for today’s decisions in Parliament. A negotiated Brexit, according to the terms agreed last week between the EU and the UK, is now seen as the most favourable outcome.
If Boris Johnson fails to pass his deal through parliament, Brexit will once again be postponed. In this scenario it is likely for the pound to lose support, potentially shaving off last week’s gains. A new delay means the possibility of a general election happening before any deal is rectified. This would multiply uncertainty, as the possibility of a no-deal exit would still be on the table and potentially in the hands of a Parliament more inclined to back such an outcome.
Photo by John Cameron.
Has undertaken a number of senior roles in his current employer including running the international desk, responsible for managing sales, customer services and marketing functions for a number of territories, as well as acting as a regular public speaker at events and contributor to TV and other media through interviews and market analysis. Since November 2016 he has been the Senior Executive Officer (SEO) of ActivTrades Dubai branch, having overall management responsibility of the branch. Prior to joining ActivTrades Ricardo worked in the IT and Financial industries.
© 2019 High Leverage FX - All Rights Reserved.
© 2019 High Leverage FX - All Rights Reserved.