Brexit Negotiations between Europe and the United Kingdom (Ben Fletcher)
For the first time the Brexit negotiation team met face to face at the European Central Parliament in Brussels. The discussions over the course of the next 18 months are likely to become one of the key drivers behind currency market movements.
Today UK Chief Negotiator David Davis after the talks suggested there had been a positive start. Both Davis and Michel Barnier, EU Head Negotiator shared mountaineering gifts representing their shared interest in the hobby. What might become clear however over the cause of these negotiations is how much they don’t share the same ideas, whilst aiming for the same goal it’s safe to stay the starting positions are probably a large distant apart.
Press Conference Post Day One
This afternoon Barnier and Davis delivered a press conference outlining the day’s main topics. Davis started by answering the first question about Ireland, declaring it was one of the main focuses today and that it will remain a key focal point throughout the discussions.
Whilst there may not a running commentary of all the negotiations there will be a timeline revealed soon, indicating the the order of topics. European leaders have not held back from demanding the UK pay a “divorce bill” before any other negotiations can start and it will be interesting to see if that does become a sticking point.
There is likely to be updates across the course of the talks with good news for the UK directly resulting in Sterling strength and vice-versa for any negative announcements. Therefore there is unlikely to be little warning before market movements so any requirements you may have could be affected by volatility.
How can I help?
When there is expected volatility in the currency market, as a brokerage we can help to mitigate your exposure by alerting you to any market movements. If you do have a requirement setting a stop loss can make sure the market never drops below a point you can’t afford. Alternatively a limit order could allow you to capitalise on any major movements in your favour by setting your currency to automatically buy 24/7. If you do have any questions regarding anything above please don’t hesitate to send me Ben Fletcher a quick email at [email protected], alternatively I can be reached on 01494 725353.
Source: http://www.eurorateforecast.com/2017/06/19/brexit-negotiations-between-europe-and-the-united-kingdom-ben-fletcher/
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