Get ready, set, go!

19 June, 2019

Bradly Ronan

The Tory leadership race is in full sprint for the second vote, where Boris took 126 votes followed by Hunt with 46. We saw Dominic Raab knocked out as he didn’t reach the benchmark by only getting 30 votes of the needed 33. We still have Boris’ polar opposite Rory Stewart still in the race by achieving 37 votes. with Bo-Jo seeming to take the lead in the polls. Historically early estimate polls haven’t always been correct. So, will we see an undertaker plough-drive into victory?

With the higher chance of Boris being the future leader, and the frontman of any future EU negotiations will this be enough to give the EU the shakes?

Will this end with more clarity or with more uncertainty? Some will argue if we come down to only more hard-line Brexiters left in the race then this will give business owners some grounds to work with as it puts us in a clearer light. But as always, parliament still has the power (and will) to veto/ reject any harsher deal/ no deal arrangements. Which will ultimately result in a general election throwing more fuel to the fire of uncertainty?

The pound has been falling further and further down since the start of May with little rhyme or reason to challenge that. Make sure you stay on top of any news by staying in close contact with your currency specialist. With the potential risk ahead is it worth holding off? Why not take advantage of our forward option and secure rates avoiding the risk of any sudden drop.

Milkshakes DO NOT bring all the Brexiters to the yard. As we see the Brexit party press charges and seek compensation over the not so long ago milkshake attacks on the party leader Nigel Farage.

Today we see UK CPI released at 9:30
At 13:30 we see Canada’s CPI release
President of the ECB Mario Draghi speaks at 15:00
Followed by some data released from USA regarding FOMC projections and statements, FED funds rate along with a press conference shortly after.