May or other way

In recent news, MP’s have announced that they support May’s decision to resign, for fear of no escape entirely further supported by former secretary Boris Johnson. The Democratic Unionist Party (DUP) has made a stance against the current Brexit deal and therefore the chances of Thresa May getting her deal through parliament is highly unlikely. May has said she will resign should her deal be passed, so it remains to be seen if keen Brexiteers will support her. If the bill is not passed this week, there will be an extension of article 50 only until the 12th of April, which will either result in a no deal Brexit or a further extension and the UK will participate in the fore coming EU elections.

Recent events had no closure which will escalate uncertainty in the strength of GBP and the ongoing high volatility so far, especially in March. Moreover, the head of FX in TD Securities Mark McCormick noted that the EUR/GBP growth rate is highly vulnerable and it is unlikely we will see a substantial increase in the near future, since there was no indication for a solution to the “Brexit debacle”.

The GBP/EUR rate dropped by 0.15% following parliamentary results not long after a 0.34% increase. We recommend you speak with one of our traders in order to secure your funds and make the most out of recent events.