The spike in the Pound’s value as a result of a Trump victory could be set to continue, as hopes of a free trade deal agreement are reignited. Furthermore, the Pound has found added support as Labor MP’s look to block a request for Article 50, which could put an end to the UK’s odds of withdrawing from the EU.
With Theresa May set to challenge the High Court ruling in December, a day after the Italian Referendum which could put an end to Renzi’s status as Prime Minister.
In a twist of events, the UK could find itself in a more favourable position next week, presenting fresh opportunities for those looking to buy foreign currency.
Theresa May and Donald Trump – The unexpected duo
Theresa May did well to keep her personal opinion on Trump away from the spotlight, but given his clear opinion towards women it seems like an unlikely partnership to form. That being said, there appears to be new opportunities for the UK, given Trump’s favourable opinion of the UK.
His comments are strikingly opposing to Obama’s stance regarding a back of the queue trade deal if the UK opted to leave the EU.
But much of this depends on whether Theresa May will have the opportunity to trigger Article 50 within her proposed timeframe of March 2017, with growing support from the left to prevent any such action from taking place.
Parliament to block Article 50?
The anti-Brexit and anti-Trump campaigns are out in full force this week, as riots hit Oregon for a second day. And with MP’s sure to block any invocation of Article 50, Theresa May’s High Court challenge could be an important one for her and her Government.
That being said, if Theresa May is unable to challenge the Brexit overrule, Brexit could be stopped entirely in its path lending further Strength to the Pound.
If things continue to unfold in this manner, fresh unexpected opportunities for those looking to buy foreign currency could arise.