'The stronger the pound the more convinced that the ruling Conservatives will be able to deliver a Brexit deal through Parliament.”
It may seem as if Britain has been mired in political turmoil forever, but the stalemate over Brexit and the U.K.’s future may come to an end next week when the public goes to the polls. Political uncertainty over the past 3½ years has caused unprecedented volatility in the pound GBPUSD, +0.0000% as well as domestic stocks.
Three failed attempts to get her EU-supported Brexit deal approved by MPs led to May’s resignation in June this year — three years on from the referendum.After months of playing hardball and insisting Britain was prepared to leave the EU without a deal on Oct. 31, Johnson struck a deal with Brussels on Oct. 17. However the new prime minister faced similar problems to his predecessor as parliamentary opponents attempted to block and delay the deal.
However, none of those elections featured Brexit, and the 2019 vote will have its own set of factors and consequences for equities and the pound. The Jefferies global equity strategist Sean Darby said: “The market’s conviction over the margin of victory ought to be observed through the pound. The stronger the pound the more convinced that the ruling Conservatives will be able to deliver a Brexit deal through Parliament.”
ING’s chief EMEA FX strategist Petr Krpata said such a scenario would see the pound reach $1.33 over the next couple of months Corbyn’s nationalization plan, which includes bringing the Royal Mail RMG, +3.36% , energy supply networks and water companies into public ownership, would certainly spook investors. Energy company SSE SSE, -1.50% and National Grid NG, -1.23% have set up offshore holding companies to avoid Labour’s manifesto pledge. Labour could also bring telecoms company BT BT.A, -2.02% under partial state ownership as part of a promise to provide every U.K.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Your Horoscope for the Week of December 1Everything you need to know for the upcoming week.
Weiterlesen »
As election nears, Boris Johnson tries to keep distance from President TrumpAs Britain heads into the home stretch of its election campaign, the arrival of Trump for this week’s NATO summit adds a volatile new element to a divisive contest. “They are two peas in a pod,' one parliamentary candidate wrote.
Weiterlesen »
Start your Monday smart: What's happening this weekNATO, impeachment inquiry, climate, gun rights, Advent, Cyber Monday. Here's what the next six days will bring.
Weiterlesen »
Hugh Grant says a Boris Johnson government is a 'terrifying prospect' - Business InsiderHugh Grant is going door-to-door to persuade Brits against the 'terrifying prospect' of a Boris Johnson government
Weiterlesen »