Sterling surges on talk Brexit won’t happen

Something strange is happening…

The more chaotic Brexit becomes, the more Pound Sterling is going up.

Why?

Because currency markets are now increasingly pricing in that Brexit won’t happen.

There’s only just over 2 months before the UK is meant to leave the EU. But there is no Brexit plan in place and MPs have made it clear they don’t want a no deal Brexit.

It leaves the most likely outcome as an extension of Article 50 or calling the whole thing off. Betting platforms have bumped up the odds to 1 in 3 that Brexit will never happen.

Theresa May and the EU have confirmed no extension has been requested. And note - an extension will need approval from the EU’s 27 members.

On Monday next week the Prime Minister is expected to outline the way forward.

What are her chances of gaining a consensus on anything?

With so much uncertainty, sustained volatility in the Pound looks inevitable.

One thing we can do however is help you secure a rate of exchange and mitigate your ongoing currency risk.

Click here for a Free quote.

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Current rates:

Friday 18th January 2019 at 09:10

£1.00 GBP = 1.1357 EURO

£1.00 GBP = 1.2640 USD

£1.00 GBP = 1.8031 AUD

£1.00 GBP = 1.9164 NZD

£1.00 GBP = 1.7179 CAD

£1.00 GBP = 17.8489 ZAR

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