It’s been an eventful day at the Conservative conference and the message that has been delivered by the party is that Theresa May’s chequer plan is the only option. Chancellor Philip Hammond told the conference that a successful conclusion of the Brexit talks, (in other words a deal reached,) would boost economic growth, which in turn would help increase spending in the years to come.
Deadline day has now been set for November and ultimately I am expecting major volatility once the negotiations conclude. Quite simple if a deal is reached I expect GBPEUR to increase and if a deal is not reached I expect GBPEUR to fall.
Many of my clients have asked what will happen if a deal isn’t reached? Firstly, the UK has until 21st January. If the PM announced that there has been no deal with the EU, the Government will decide what to do next. This would likely be a vote and the likely options would be, leave the EU with no deal, delay leaving the EU, hold another referendum or keep negotiating.
At this point, whatever is decided would go back to Parliament and if this is rejected, the likelihood is that a General Election would have to be called. If this was to happen I expect GBPEUR would be close to parity in the first quarter of next year.
Brexit developments are now coming thick and fast. If you are trading GBPEUR its important to keep up to date with the developments. The currency company I work for has won numerous awards for exchange rates therefore it enables me to trade GBPEUR / EURGBP at rates better than other brokerages and high street banks.
I would recommend sending an email with a brief description of your requirements and your timescales (this is very important, the length of time you have will change your options) and I will email you with my strategy and the process of using our company firstname.lastname@example.org. Dayle Littlejohn.
If you are already using a brokerage and would like to know if you are receiving the best rates possible email me with the exact figures and I will reply with our live price. This will take you a few minutes and in the past I have saved clients thousands!