Expect GBP Volatility Over The Next Few Days

Sterling gained against after the UK was reported to be in the process of preparing a compromise on the Irish border issue in Brexit negotiations with the European Union.

The reports, which came amid the Conservative Party Conference, could promise a necessary breakthrough or at least a remarkable step towards a trade accord ahead of the EU summit due later this month.

If confirmed, the reportedly new stance heralds a major shift on the UK’s previous position that Northern Ireland could not have different rules from the rest of the UK. The issue has for long been a sticking point in the Brexit negotiations, which is due to take place on 29 March 2019.

However, a divisive ruling Conservative Party conference this week could weaken the currency.

At her party’s annual conference this week, May will defend her plan for leaving the EU. Critics like ex-foreign secretary Boris Johnson could openly defy her.

Deep divisions within the party could turn this conference into a disaster for May, which could easily have negative effects for sterling.

The government might end up without any Brexit plan whatsoever. Whichever way one looks at it, the next few days will be uncomfortable for sterling.

Leave a Reply

Your email address will not be published.

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited and Equals Connect Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Payment services for Currencies 4 You Ltd are provided by Sciopay Ltd. Sciopay Ltd is a company incorporated in England & Wales. Registration No: 12352935. Sciopay Ltd is licensed and regulated by HMRC as a Money Service Business (MSB). Licence No: XCML00000151326. Sciopay Ltd is authorised by the Financial Conduct Authority as an Authorised Payment Institution. Firm Reference Number: 927951. | Terms and Conditions | Privacy Statement | Careers