June to see another Brexit vote

Hi everyone,


Sterling has bounced back slightly today after more than a week of losses and still remains the best-performing major currency this year. Finally we have a date of note for the next Brexit showdown (June 4th/5th) and Theresa May has challenged Jeremy Corbyn to back her new approved deal. 

The PM is proposing new concessions including a close customers arrangement with the EU and to uphold workers' rights and environmental protections. If Labour announce they will back the deal, Sterling will rally. However, the real test for £ is whether the House will pass the deal and that remains unlikely as the numbers are not there. If the deal fails to get through, it is almost certain she will resign.

Sterling looks set to consolidate for now until the European elections next week and then is expected to drop if the Brexit Party does well. 

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