{"id":143618,"date":"2019-03-14T09:34:36","date_gmt":"2019-03-14T13:34:36","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=143618"},"modified":"2019-03-14T09:34:36","modified_gmt":"2019-03-14T13:34:36","slug":"pound-to-rally-on-third-parliamentary-brexit-vote","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/03\/pound-to-rally-on-third-parliamentary-brexit-vote\/","title":{"rendered":"Pound to rally on third parliamentary Brexit vote"},"content":{"rendered":"
March 14, 2019<\/div>
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By George Prior<\/strong><\/p>\n

Sterling will experience a more sustained rally if British MPs decide to delay the UK\u2019s current Brexit deadline today, says the CEO of one of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The comments from Nigel Green, founder and chief executive of deVere Group, come ahead of Thursday evening\u2019s parliamentary vote \u2013 the third in as many days.\u00a0 The pound surged more than one per cent against both the dollar and euro on Wednesday as parliament voted overwhelmingly against leaving the UK without a transition agreement.<\/p>\n

Mr Green comments: \u201cThere is a growing sense of optimism that the UK will not now crash out of the EU without a deal. This is being reflected in sterling\u2019s positive moves.<\/p>\n

\u201cWe can expect a more sustained rally of the pound as a result of this week’s three votes, but only after the EU has forced the UK government to justify an extension to Article 50.<\/p>\n

He continues: \u201cThe government will be forced to articulate options that will be discussed by the parliament, such as Labour\u2019s proposal for remaining in the customs union, the Norway Plus option, another referendum or general election. All but the latter will be good for sterling.<\/p>

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\u201cAn election would likely solve nothing since both main parties will presumably again have \u2018supporting the will of the people on Brexit\u2019 in their manifestos.\u201d<\/p>\n

Earlier this week, the deVere CEO joined the growing calls for a second referendum.\u00a0 He noted: \u201cThere is no parliamentary majority for any Brexit option.\u00a0 Allowing the public to vote and giving them a final say is quite simply the only credible solution we now have available.\u201d<\/p>\n

He goes on to add: \u201cAny new vote must also include the 700,000-plus British expats who are disenfranchised from the UK political system after 15 years overseas and subsequently denied the vote on something that directly affects them.<\/p>\n

\u201cAll other G7 countries except the UK allow their citizens voting rights for life. Why is Britain different? It is especially galling as they are potentially still liable for UK inheritance tax but are not allowed to vote in the UK after 15 years.\u201d<\/p>\n

Mr Green concludes: \u201cThe pound is likely to rally \u2013 but there\u2019s also a note of caution as this will depend on what the government decides to do with any extension of the March 29 deadline.\u201d<\/p>\n

About:<\/strong><\/em><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior Sterling will experience a more sustained rally if British MPs decide to delay the UK\u2019s current Brexit deadline today, says the CEO of one of the world\u2019s largest independent financial advisory organizations. The comments from Nigel Green, founder and chief executive of deVere Group, come ahead of Thursday evening\u2019s parliamentary vote \u2013 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-143618","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=143618"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143618\/revisions"}],"predecessor-version":[{"id":143621,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/143618\/revisions\/143621"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=143618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=143618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=143618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}