Foreign Exchange Daily Market Update 17/04/18

Tue, April 17, 2018

British Businesses do not want a second Brexit Vote.

Many UK businesses have been opposed to the split from the EU, as they have more to lose from the divorce. But as a group of lawmakers tries to engineer a second referendum, business leaders are hesitating. As it prolongs the uncertainty.

A vote on the final divorce deal that the Prime Minister brings back from Brussels later this year is gaining traction. In two recent polls have shown that there may be popular support for a vote on the terms of Brexit. We still do not know if there is a majority in Parliament to send voters back to the ballot box, or if the result would be different the second time around

The agreement last month for a 21 months transition period that’s comes into effect on Brexit Day next March, has encouraged many businesses as them more time to prepare. Corporate uncertainty has fallen to a two-year low and concerns about the effects of leaving the EU on hiring and spending has diminished.

The Pound rose to a post Brexit high of 1.436 against the dollar.  Sterling increased to 1.156 against the Euro.

• U.K. businesses want certainty rather than reversing course
• Anti-Brexit campaigners want a vote on the final divorce deal

Data to look out today.   

09:30 GBP Jobless claims and average weekly earnings.

CURRENCY PAYMENTS MADE SIMPLE

PRESS RELEASE

KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html

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