Monex: Britse pond in de lift - kans op no deal Brexit lijkt langzaam te vervagen

Monex: Britse pond in de lift - kans op no deal Brexit lijkt langzaam te vervagen

Brexit British Pound
Bart Hordijk - Monex Europe.jpg

Hieronder volgt een commentaar in het Engels van Bart Hordijk, valuta-analist bij Monex Europe, op de  bewegingen van het Britse pond gisteren, na geruchten dat een harde Brexit plotseling lijkt afgewend en wellicht een overeenkomst in het Britse parlement mogelijk is.

Rumours doing the rounds on Twitter about concession of the EU on the Irish backstop lend sterling a pair of wings as the Brexit winds slowly seem to move away from the possibility of a hard Brexit. This all adds to the recent positive Brexit momentum, that is formed by seven Labour party defectors starting their own independent party, Jeremy Corbyn committing to preventing a hard Brexit from happening and the Cooper-Letwin amendment that will be up for vote in Parliament next week, potentially legally ruling out the possibility of the UK to crash out of the EU without a deal.

The road to a deal suddenly seems paved in polished gold, as Parliament unites to diminish the chance of a no deal Brexit, the EU may make more concessions on the Irish backstop after all and fractures showing in the Labour party increase Theresa May her chances of getting a deal through Parliament through a divide and conquer strategy. Her plan to build the pressure on others by letting the clock run down towards the March 29 deadline seemed dicey, but suddenly appears to be working quite well.

Therefore, if a new pound sterling will be minted after a successful end of this ever-ongoing Brexit saga, a victoriously smiling Theresa May might well be staring at you from one of its sides.

Rumours doing the rounds on Twitter about concession of the EU on the Irish backstop lend sterling a pair of wings as the Brexit winds slowly seem to move away from the possibility of a hard Brexit. This all adds to the recent positive Brexit momentum, that is formed by seven Labour party defectors starting their own independent party, Jeremy Corbyn committing to preventing a hard Brexit from happening and the Cooper-Letwin amendment that will be up for vote in Parliament next week, potentially legally ruling out the possibility of the UK to crash out of the EU without a deal.

 The road to a deal suddenly seems paved in polished gold, as Parliament unites to diminish the chance of a no deal Brexit, the EU may make more concessions on the Irish backstop after all and fractures showing in the Labour party increase Theresa May her chances of getting a deal through Parliament through a divide and conquer strategy. Her plan to build the pressure on others by letting the clock run down towards the March 29 deadline seemed dicey, but suddenly appears to be working quite well.

 Therefore, if a new pound sterling will be minted after a successful end of this ever-ongoing Brexit saga, a victoriously smiling Theresa May might well be staring at you from one of its sides.

Chart 1: GBPUSD broke 1.30 after the slew of Brexit positives.

Monex: Britse pond in de lift - kans op no deal Brexit lijkt langzaam te vervagen