UK markets saw a rather divergent performance yesterday with the FTSE100 slipping back and in the process dropping into negative territory for the year, while the FTSE250 rebounded strongly after its losses on Tuesday. The following post is courtesy of CMC Markets. While the recent rally in the pound may well be a factor in the…
Read more
The Cyprus Securities and Exchange Commission (CySEC) requested the Cyprus Investment Firms (CIFs) to report to CySEC on the likely implications that Brexit will have on their activities and services, including any suggestions for adopting immediate measures to eliminate their respective impact. CIFs are therefore advised to look at their business model structure, services and…
Read more
CySEC regulated retail forex broker FXTM has shared an interesting observation from its trading room. Notably, that there is widespread negativity towards Sterling from its traders, with 95% of its clients trading short on the GBPUSD ahead of the expected historic March 29 trigger of Article 50, formally beginning the exit of the UK from the…
Read more
The following article was written by Jens Chrzanowski, Regional German Director at FCA regulated broker Admiral Markets UK. Hello! Word has it that British PM, Theresa May, will trigger Article 50 on 29 March, marking the official commencement of the UK’s negotiations to withdraw from the European Union. Her plan is to achieve a “Hard…
Read more
U.S. bank Morgan Stanley might initially move 300 staff from Britain following its exit from the European Union, and is scouting for office space in Frankfurt and Dublin, Bloomberg News reported earlier on Thursday. The Wall Street firm will eventually choose either Frankfurt or Dublin to base its enlarged European Union hub, according to the Bloomberg…
Read more
UK peers were given fresh warnings not to try to change the Brexit Bill after it cleared its first hurdle in the House of Lords. Brexit minister Lord Bridges mentioned voters had backed a "brutally simple" question in the referendum as he cautioned fellow peers against attempting to amend the legislation during what are expected…
Read more
Markets have priced in Article 50.
Read more
This article is written by freelance writer Zak Goldberg. Prior to the Supreme Court ruling on Tuesday, the pound had hit its highest level since December, yet within minutes of the ruling, the pound had tumbled as the markets reacted to the news the government would need to consult with Parliament before Brexit. A defeat in…
Read more
The UK Supreme Court ruled in a 8-3 vote that an act of Parliament is required in order for the May government to trigger 'Article 50' and formally begin the UK's withdrawal from the EU. The court effectively rejected the arguments put forth on behalf of Theresa May's government, which wanted to trigger Article 50…
Read more
Breaking Forex News... It looks like the currency markets are in for another volatile week. Following weekend comments attributed to British Prime Minister Theresa May - that in a speech later this week she will apparently outline a Hard Brexit plan - the British Pound began the week down nearly 2% in early Monday trading…
Read more