Pound continues to slide
25 June, 2019
Yesterday the Pound weakened slightly further, with no real data to go on trading was largely sentiment based. Markets currently favouring the Euro, having seen it make gains against both its major pairings.
Boris Johnson, the favourite to be the next PM, was in the headlines for the wrong reasons over the weekend, was again in the media last night. However, this time for more political reasons, Boris, outlined what he would be hoping to achieve. Claiming the current deal on the table was dead, and that he would be willing to renegotiate a better deal, wanting to leave with a deal as a priority but preparing to leave without should the need arise. Boris aslo stating that there are several ways to resolve one of the main issues, the Irish Border and believes he persuades the EU.
Elsewhere in the Tory party, a few dozen MPs would be willing to support a vote of no confidence to avoid a no deal Brexit should the need arise, with Labour previously mentioning that they would trigger a vote as soon as the new MP is elected, that we know will be July 24th.
Again no real data out today, but with the Pound sliding, can you afford to put your purchase off any longer? Speak to your account manager for all the latest.
- Sterling had a couple of brief rallies towards the end of last week 22 July, 2019
- Sterling hits lows of 2019 19 July, 2019
- ‘Backstop is dead’ and Sterling is lowest performing currency 17 July, 2019
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