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GBP is at its lowest level in two weeks due to the possible delay of the Brexit vote

2019-03-11 12:21 pm | Resource: NEWS | No Views : 38



 The British pound fell against major currencies on Monday morning amid reports of a postponement of the vote on the Brexit for the second time. UK media reported that Prime Minister Teresa Mae is working to change the way tomorrow's vote on Britain's withdrawal from the European Union to a temporary session, so that a meaningful vote could be organized later.

If the deal is voted on in a temporary vote, which is likely to happen, the government will not automatically organize a vote to accept or reject Brexit without a deal.

Theresa May seeks to change the voting method

UK Prime Minister Teresa Mae is working on how to change tomorrow's meaningful vote on Britain's withdrawal from the European Union to a temporary stage, according to a report by the British Sun newspaper. The Prime Minister is reportedly working on details of the change of votes with his top aides after discussing the issue last night with European Commission President Jean-Claude Juncker.

A previous report said senior Conservative members were calling on May to postpone a parliamentary vote on Britain's exit package from the European Union, warning that the deal would not receive the necessary support.

The financial sector is finished off from the UK

 In other news, the Newfetal Financial Foundation said in a report published on Monday that at least 275 British financial firms had moved or planned to transfer their assets from the country as part of preparations for a UK pullout from the European Union. Of assets transferred to nearly 1 trillion pounds.

Banks have transferred nearly £ 800 billion of assets, which make up nearly 10% of the entire UK banking system, to other EU countries, while insurance companies and asset managers have turned around £ 35 and $ 65 billion £ respectively. Most companies moved to Dublin, Luxembourg, Paris, Frankfurt and Amsterdam.

Moreover, New Financial believes that more assets will be moved over time, and that current transfers are only the "first stage", with the final value of the companies "much higher".

GBP Trades
  • Compared with the euro, the pound was down 0.37% at 11:08 CET, reaching EUR1.5432, its lowest level since Feb. 25.
  • Sterling lost 0.24% against the Dollar at 11:09 CET, trading at $ 1.129810, an unprecedented price since February 22
  • The pound was also lower against the yen and the Swiss franc, with 0.17% and 0.20% respectively, trading at 144.35500 yen and 1.31009 Swiss francs at 11:12 CET.


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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 18 March 2019

Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. the USD/JPY was able to hold steady at 111.12 to rebound slightly to 111.90 as it faces some selling pressure around this level , but it is still above the Bollinger’s moving average line. In view of the technical indicators Both the RSI and Stochastic are indicators to weakness of the indicators.…

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