Fri, September 22, 2017
Prime Minister Theresa May’s Brexit speech today could give the Pound a boost. We could see it rally as much as 4.3 %, the biggest since 2013.
Theresa May is expected to try and kick-start negotiations with the European Union in her speech in Florence, Italy. May is considering whether to discuss the EU’s demand for an exit bill payment. If an amiable deal can be made we could see sterling rally to fresh highs, ahead of the Conservative Party conference in less than two weeks, where a far more euroskeptic presence is expected.
We could be in a position where sterling rallies substantially on what seems very passive and soft Brexit from Theresa May, which then could be reverses.
The Pound rose to 1.1378 yesterday against the Euro. Sterling fell to 1.3586 after reaching a high of 1.365 the previous day.
Data to look out today.
There is not much data due out today
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