{"id":145570,"date":"2019-04-10T19:49:59","date_gmt":"2019-04-10T23:49:59","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=145570"},"modified":"2019-04-10T19:49:59","modified_gmt":"2019-04-10T23:49:59","slug":"brexit-delay-the-pound-will-rally-but-business-needs-decision-not-more-fudging","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/04\/brexit-delay-the-pound-will-rally-but-business-needs-decision-not-more-fudging\/","title":{"rendered":"Brexit delay: The pound will rally but business needs decision not more fudging"},"content":{"rendered":"
April 10, 2019<\/div>
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By George Prior<\/strong><\/p>\n

The pound will benefit from a relief rally \u2013 but little else has changed – as Theresa May is forced to concede a medium delay to Brexit, affirms the CEO of the world\u2019s largest independent financial advisory organization.<\/p>\n

The message from deVere Group\u2019s Nigel Green comes as officials in Brussels say EU leaders have\u00a0agreed\u00a0a delay to Brexit to 31 October along with a review in June.<\/p>\n

Mr Green says: \u201cWe can expect a relief rally of the pound, as investors digest the news that Brexit negotiations have longer to run, and the UK will not crash out of the EU on Friday, and the likelihood of a softer Brexit is significantly increased.<\/p>\n

\u201cA softer Brexit would be welcomed by businesses in the UK and those around the world that trade with Britain.<\/p>\n

\u201cInvestors are advised to now be on the watch for this relief rally in Sterling, UK stocks, and also a\u00a0mini spurt\u00a0in economic activity in the UK, as delayed household and business spending takes place.\u201d<\/p>

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\u201cThis medium extension period also makes a second referendum – a \u2018confirmatory vote\u2019 on any deal the Parliament finally agrees to – more likely, and with that a good chance of Brexit being voted down.<\/p>\n

He continues: \u201cIn the meantime, this medium-length extension doesn\u2019t change the fundamentals significantly. What businesses in the UK, the EU, and around the world that trade internationally\u00a0need and want is\u00a0decision, not further fudging.<\/p>\n

\u201cThe best way to do this would be to put it back to the people in a second referendum.\u201d<\/p>\n

In March, the deVere CEO stated: \u201cAllowing the public to vote and giving them a final say is quite simply the only credible solution now available.<\/p>\n

\u201cFrom inaccurate and often misleading campaigns to ineffective negotiations, the Brexit omnishambles has gone on long enough.<\/p>\n

\u201cBrexit will impact economic, security, diplomatic and foreign policy decisions for the UK for many decades.\u00a0 After MPs have tried but failed, this issue is too important not to now be put back to the people.\u201d<\/p>\n

He stands by this position following the outcome of the emergency Brexit summit in Brussels.<\/p>\n

Mr Green concludes: \u201cAll the continuing uncertainty makes it essential for those who are serious about safeguarding, creating and growing their wealth to ensure that their portfolios are properly diversified.\u00a0 Diversification is the investor\u2019s best weapon to mitigate risk and capitalise on the opportunities as they arise.\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.<\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior The pound will benefit from a relief rally \u2013 but little else has changed – as Theresa May is forced to concede a medium delay to Brexit, affirms the CEO of the world\u2019s largest independent financial advisory organization. The message from deVere Group\u2019s Nigel Green comes as officials in Brussels say EU […]<\/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-145570","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/145570","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=145570"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/145570\/revisions"}],"predecessor-version":[{"id":145571,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/145570\/revisions\/145571"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=145570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=145570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=145570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}