Whats going on with Brexit

Yesterday Teresa May delivered her first speech addressing foreign policy since she became PM, where she again talked about setting international trade agreements and talked of plans to “set our own rules and forge new and dynamic trading agreements that work for the whole UK” and not go for an “off-the-shelf solution.” Although this morning there has been reports of a leaked Cabinet Office memo dated 7th November claiming there is no plan for Brexit. Could this be the beginning of a pound decline?

If you have an upcoming currency requirement in the coming months it could be worth giving us a call today on 01923 725 725 to discuss your options to secure currency. With the pound seeming to hold its recent position against the Euro and Dollar follow the U.S elections why wait for a move in the wrong direction. We are still on the wrong side of the governments appeal against the high court ruling that Parliament should have a say before the UK invokes Article 50 which is due to be heard on the 5th December, it is likely we could see further Pound volatility and possibly these recent gains lost.

Today we have data out across the three majors with UK Retail and Producer Price Index figures and UK Inflation data which is expected to be up by 0.1% due this morning at 09:30. At 10:00 EUR Trade Balance and GDP figures for the 3rd quarter are released and the afternoon focus is on the U.S. which post Retail Sales figures at 13:30 followed by Import and Export price index.

Get in touch with the Currency Index team today for some friendly guidance on how we can help you with your overseas transfers today.