{"id":149879,"date":"2019-06-19T09:58:19","date_gmt":"2019-06-19T13:58:19","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=149879"},"modified":"2019-06-19T06:45:28","modified_gmt":"2019-06-19T10:45:28","slug":"the-pound-and-uk-assets-could-fall-further-on-pm-candidates-lack-of-brexit-clarity","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/06\/the-pound-and-uk-assets-could-fall-further-on-pm-candidates-lack-of-brexit-clarity\/","title":{"rendered":"The pound and UK assets could fall further on PM candidates\u2019 lack of Brexit clarity"},"content":{"rendered":"
June 19, 2019<\/div>
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By George Prior<\/strong><\/em><\/p>\n

The debate between the five men vying to be the UK’s next Prime Minister underscores that the pound and UK assets can be expected to fall further, affirms the boss of the world\u2019s largest independent financial advisory organizations.<\/p>\n

The comments from Nigel Green, founder and CEO of deVere Group, which has $12bn under advisement, comes following former Brexit Secretary Dominic Raab being eliminated in the second round of voting, ahead of a live televised debate between the remaining five: Boris Johnson, Jeremy Hunt, Michael Gove, Sajid Javid and Rory Stewart.<\/p>\n

Unsurprisingly, Brexit dominated Tuesday evening\u2019s debate.<\/p>\n

Mr Green notes: \u201cThe debate between the five men vying to be the UK’s next prime minister underscores that the pound can be expected to fall further.<\/p>\n

\u201cThe chaos and uncertainty triggered by Brexit \u2013 which has recently intensified by the race to become the new Prime Minister \u2013 has put the pound on a considerable downward trajectory.<\/p>

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\u201cAn already battered pound has lost almost 5 per cent of its value against the U.S. dollar since the start of May.\u00a0 Similarly, it continues six straight weeks of falls against the euro.\u201d<\/p>\n

He continues: \u201cThe debate on Tuesday night \u2013 the first one in which Boris Johnson, the frontrunner, has taken part \u2013 underscores in the most dramatic way that there is still no single realistic way forward out of the Brexit quagmire.<\/p>\n

\u201cNone of them could answer how they would get their version of Brexit over the line.<\/p>\n

\u201cAs it stands, the facts remain that parliament will not back the deal as agreed with the EU; it will not back a no-deal scenario; and it will not back a second referendum.<\/p>\n

\u201cAs such, there is still no path through this \u2013 and it has already been going on for three years.\u201d<\/p>\n

Mr Green goes on to add: \u201cAgainst this backdrop of growing uncertainty and a looming deadline, the pound and UK assets will likely have further to fall.<\/p>\n

\u201cIt is hardly surprising then that UK and international investors are responding to the Brexit-fuelled uncertainties by considering removing their wealth from the UK.\u201d<\/p>\n

The deVere CEO concludes: \u201cThe lack of real answers from the candidates on the most pressing issue for a generation will inevitably impact the pound and UK assets.<\/p>\n

\u201cNothing has already been priced-in as there is, currently, nothing to price-in.\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 debate between the five men vying to be the UK’s next Prime Minister underscores that the pound and UK assets can be expected to fall further, affirms the boss of the world\u2019s largest independent financial advisory organizations. The comments from Nigel Green, founder and CEO of deVere Group, which has $12bn […]<\/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-149879","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149879","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=149879"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149879\/revisions"}],"predecessor-version":[{"id":149881,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/149879\/revisions\/149881"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=149879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=149879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=149879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}