Thee End is Nigh!
4 June, 2019
The pound has fallen almost constantly for almost a month falling as much as 0.7% alone yesterday. This is due to the ongoing saga that is Brexit and the mess our government cannot unstick itself from.
They are falling as quickly as they come, Tory MPs was quick to put their friends names in the hat and as many as 13 names were put forward for the leadership challenge. This was due to having a threshold of ONLY 2 MPs to put in someone’s name for them to be a competitor. Since then other candidates have seen the political suicide this is causing and urging their colleagues to drop out to try and save the mess they’ve created. Sadly there isn’t any participation trophies for this race and they will soon need to have a short list to round up what’s left of the party to challenge the likes of Farage with the Brexit party and Vince Cable with the Lib Dems taking a huge chuck of votes in the recent EU polls.
This vote is likely to have a very strong impact on the Pound as historically the country has been a 2 party system with very clear goals and direction but with the rise of these fresh parties surely to throw off balance any investors. Make sure you stay in contact with your currency specialist to take advantage of any situation and get ahead of the curb with your currency purchase. There is no such thing as being to prepared so make sure you think ahead and plan for the future as it could mean the difference of saving you thousands!
In other news President Donald Trump is welcomed on his 2nd state visit to the UK meeting the queen in Buckingham Palace. But before even stepping of the plane he had a few choice words to say at our own Mayor Sadiq Khan, who he tweeted was a “stone cold loser” after Khan said the UK “should not roll out the red carpet” for the President, also stating previously that Mr Trump “wasn’t welcome” in London. Apparently Mr Trump didn’t get that memo as he enjoyed a lovely tour around Westminster abbey.
For those down under or looking to move down under you will want to keep an eye out as there is a lot of data being released today and tomorrow.
Early morning we will see the release of Retail Sales figures, Cash rates Figures, RBA Rate Statement followed by the RBA’s (Reserve bank of Australia) governor, Philip Lowe speaks.
Later on in the day we will see a talk from FED chairman Powell.
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