Brexit or Little Big Horn

16 May, 2019

Samuel Roberts

So once again Theresa May is putting another deal to the house.

Make no mistake, this is Theresa Mays’ last stand.  If this deal is voted down again, Theresa May will have few options left but to leave number 10 for good but where does that leave Britain and Brexit?

Well Theresa May hopes that this deal (if passed) will help to stem the Tory losses on the upcoming EU elections but once again, Nigel Farage is waiting in the wings with his Brexit party, to deliver a body blow that would inflict serious damage to a Tory Government, whos’ inept handling of Brexit has led to this current climate of dire uncertainty.

A new Tory leader would not mean a new start on Brexit as Jean Claude Juncker has already made it clear, that he has no interest or apetite to start renegotiating from scratch with someone else.

A general election would not be good for the markets, as historically the markets do not favour a Labour government, as Labours’ policy on ‘fairness’ starts with increasing taxes for the rich.  Nothing wrong in that you may say but when they feel threatened the super rich tend to move their investments overseas, seeing a downturn in investment expenditure, which the markets (equity and currency) loathe.

So not a pretty setting to consider.  This would be where most currency buyers would consider holding off until ‘the dust settles’ but if you have  an account with Currency Index, your Currency Consultant is prepared for all possible outcomes and also has mechanisms in place, to help you secure the best rate possible at the time, irrespective of the setting.

There are no data releases today but later this evening, there is a Bank of England (BoE) Speech being given by Jonathan Haskel CBE, an economist and Professor of economics at Imperial College.

Jonathans’ previous speech was explaining if British Businesses could ever bounce back from the current climate of fear (excuse me, that should read uncertainty).  I would expect an update and continuation of his previous speech.

So to summarise, if you are looking to make a transfer whatever the reason, why not speak to your Currency Consultant at Currency Index first and get the inside track, along with the best deal, to mitigate potential losses and maximise your returns on your currency.