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Flash Crash

We are more likely to end up leaving the European Union without a deal if parliament rejects the agreement Theresa May has negotiated with Brussels, Brexit minister Stephen Barclay said this morning.

With less than three months until Brexit lawmakers will make a pivotal decision later this month: accept May’s plans for a managed exit and relatively close economic ties or reject the deal and spawn huge uncertainty about the country’s next steps.

Sterling continued to fall against the U.S. Dollar, driven in part by growing concerns over the course of the Brexit process.

Growth in Britain’s construction sector fell to a three-month low in December, though businesses struck a more upbeat tone for the coming year despite Brexit uncertainty delaying commercial projects, a survey showed earlier today.

The IHS Markit/CIPS UK Construction Purchasing Managers’ Index (PMI) fell to 52.8 from 53.4 in November, broadly in line with the consensus expectation of 52.9 in a poll of economists.

Last night we saw a mini flash crash, Sterling fell across the board, on average falling 0.8%. These types of events can have a massive impact on your upcoming currency purchases. Please get in touch with us and speak to a member of our team and we can explain the various tools we have in place to protect you from such events.

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