Let’s start off with diagram below, hopefully it will help you understand where it leaves the UK now all 27 EU member states have agreed to a theoretical extension to Article 50, or in other words an extension to the date we leave the EU.
Slightly clearer? Well this is the route 1FX think it’s going:
- Short extension agreed to 30th June – GBP settles down
- Theresa May tries to put a similar deal on the table as the EU won’t renegotiate and John Bercow’s ruling won’t allow us to vote on the same deal. Deal blocked for a vote – GBP WEAKNESS
- Some form of bolstered deal slips through the net for the House of Commons to vote on – GBP steadies
- Deal quashed as it is fundamentally the same as the previous two – GBP WEAKNESS
- No Deal Brexit – HUGE GBP WEAKNESS
Now this is just a matter of opinion and we’d love to hear what you think and in truth there is no wrong answer. Let us not forget in 2016 when the UK voted to leave the EU, it was a huge shock to us all!
Looking forward to hearing from you…