Theresa May Establishes Control of the European Union Brexit Negotiations

Published on: 07/26/18 2:38 PM

Category: Uncategorised

Control of the European Union Brexit negotiations has been taken by Theresa May, the Prime Minister of the United Kingdom. The expectations are this will continue to add strength to the British Pound. The fear of job losses in London due to the Brexit are decreasing as the Parliament of the United Kingdom is preparing to begin their summer break. The economic figures for the United Kingdom are also showing promise. The last couple trading sessions for the GBPUSD may continue to extend as the Brexit negotiations pessimism between the EU and the UK continues to recede.

United Kingdom Prime Minister Theresa May stated this week she will be leading the discussions in what is being referred to as a downgrade of the importance of the Brexit department for the government of the United Kingdom. She deputized Dominic Raab, the Secretary of State. A written statement by Theresa May was sent to Parliament declaring they will be leading the negotiations with the EU. The previous United Kingdom Chancellor is George Osborne. He made a tweet asking who was in charge in the past that was not expected to be a game changer. This statement assisted the pound which has shown an increase for several sessions. This increase is shown in the Hourly Timeframe for the GBPUSD Price Chart for July 18th through the 25th of 2018.

During the time the United Kingdom Parliament is taking a summer break for six weeks, the volatility in the GBP may decrease. This will help reduce the possibility of negative headlines regarding the Brexit. The most current data for the United Kingdom economics is fairly positive. According to the UK Finance trade body, June revealed a nineteen month high for mortgage approvals in the United Kingdom. It also appears the fear of losing jobs due to the Brexit has been exaggerated. Less than 5,000 jobs in the financial sector are expected to leave Britain by the first day of Brexit. A statement was made to the Bloomberg news agency on Wednesday by Sam Woods, the Deputy Governor of the Bank of England. He said the trading terms established with the European Union will determine future relocations.

The Chairman of Barclays stated the banking industry of Britain will escape relatively unscathed from Brexit while remaining one of the two top financial centers in the world for the future. This statement was made to Reuters by John McFarlane. Both experienced and new traders have numerous resources for help including daily educational and analytical webinars and trading guides created to boost trading performance.