{"id":154367,"date":"2019-08-28T11:45:12","date_gmt":"2019-08-28T15:45:12","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=154367"},"modified":"2019-08-28T11:31:24","modified_gmt":"2019-08-28T15:31:24","slug":"pound-nosedives-uk-recession-looming-now-is-the-time-to-protect-uk-based-assets","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/08\/pound-nosedives-uk-recession-looming-now-is-the-time-to-protect-uk-based-assets\/","title":{"rendered":"Pound nosedives, UK recession looming \u2013 now is the time to protect UK-based assets"},"content":{"rendered":"
August 28, 2019<\/div>
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By George Prior<\/strong><\/p>\n

As the pound nosedives and the UK faces a looming recession, those with UK financial assets – including UK pensions, bonds and sizeable holdings of sterling \u2013 should consider international options to protect their wealth.<\/p>\n

This is the message from the chief executive and founder of deVere Group, Nigel Green, after the Queen accepted UK Prime Minister Boris Johnson\u2019s government request to suspend parliament from mid-September.\u00a0 The move now reduces the time available to MPs to block a no-deal Brexit.<\/p>\n

Mr Green affirms: \u201cThe already Brexit-battered pound has taken yet another hammering thanks to Boris Johnson\u2019s highly controversial suspension of parliament.<\/p>\n

\u201cSterling is down more than 0.5% against both the euro and U.S. dollar as a result of the political manoeuvring.<\/p>\n

\u201cThe pressure will remain on for the pound for the foreseeable future as the possibility of a no-deal Brexit increases.\u00a0 Should the UK leave with no-deal, the pound is likely to remain weak for several years until the country and the bloc readjusts.<\/p>

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\u201cIn addition, the likelihood of a general election is weighing on the currency.<\/p>\n

\u201cAnd should a Corbyn-led Labour party win such an election, there will be even more longer-term bad news for the pound. His anti-business rhetoric, and high tax and low-profit policies would lead to a considerable and sustained selling of the pound.<\/p>\n

\u201cThere\u2019s also now the serious possibility of a general strike, mass protests and civil disobedience as political uncertainty intensifies.\u201d<\/p>\n

He adds: \u201cThis critical period for Brexit negotiations is also happening as the UK economy is potentially on the brink of a harmful recession which will deliver another bloody nose to investment, trade and confidence in the UK.\u201d<\/p>\n

Mr Green continues: \u201cLooking at the nose-diving pound and a looming UK recession, the outlook is somewhat bleak in Britain. Those with UK financial assets – including UK pensions, bonds and sizeable holdings of sterling \u2013 should now perhaps consider the available international options to protect their wealth.\u201d<\/p>\n

Earlier on Wednesday, the deVere CEO noted: \u201cBoris Johnson\u2019s decision to suspend parliament will have far-reaching economic effects, many of which will not be known for years to come.\u201d<\/p>\n

He concludes: \u201cThose who are serious about building and safeguarding their assets should explore legitimate overseas options as the UK moves into an unprecedented crisis.\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

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By George Prior As the pound nosedives and the UK faces a looming recession, those with UK financial assets – including UK pensions, bonds and sizeable holdings of sterling \u2013 should consider international options to protect their wealth. This is the message from the chief executive and founder of deVere Group, Nigel Green, after the […]<\/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-154367","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154367","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=154367"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154367\/revisions"}],"predecessor-version":[{"id":154368,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/154367\/revisions\/154368"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=154367"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=154367"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=154367"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}