{"id":159573,"date":"2019-11-11T10:00:07","date_gmt":"2019-11-11T15:00:07","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=159573"},"modified":"2019-11-11T08:22:09","modified_gmt":"2019-11-11T13:22:09","slug":"british-pound-boost-as-hung-parliament-and-corbyn-risks-reduce-on-farage-johnson-pact","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2019\/11\/british-pound-boost-as-hung-parliament-and-corbyn-risks-reduce-on-farage-johnson-pact\/","title":{"rendered":"British Pound boost as hung parliament and Corbyn risks reduce on Farage-Johnson pact"},"content":{"rendered":"
November 11, 2019<\/div>
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By George Prior<\/strong><\/p>\n

The pound will receive a welcome boost after Nigel Farage\u2019s Brexit Party will not be pitted against the ruling Conservatives in almost 320 seats in next month\u2019s election, affirms the boss of one of the world\u2019s largest independent financial organizations.<\/p>\n

The upbeat message from Nigel Green, founder and CEO of deVere Group comes as the Brexit Party\u2019s leader Nigel Farage will stand aside in all 317 seats won by the Conservatives in the 2017 general election, fighting only seats held by other parties in the December 12 general election.<\/p>\n

Mr Green notes: \u201cNigel Farage has given the Prime Minister a massive boost in the election as he stands down candidates from his Brexit Party.<\/p>\n

\u201cIn turn, this will give a welcome boost to the Brexit-battered pound, which has consistently been something of a Brexit bellwether.\u201d<\/p>\n

He continues: \u201cThe move reduces the likelihood of another hung parliament, which would have led to more parliamentary paralysis and more crippling delays on Brexit.<\/p>

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\u201cAll of this would have generated yet more, intensified uncertainty \u2013 something financial markets loathe.\u00a0 This is why the pound has jumped on the news of the informal Johnson-Farage pact.<\/p>\n

\u201cLooking ahead, a Conservative majority would give the government the enhanced ability to move on with the Brexit process.<\/p>\n

\u201cWealth, jobs and opportunity-generating businesses \u2013 both in the UK and internationally – have been crying out for certainty. There is the hope a majority government could lift the fog of Brexit that\u2019s been hampering investment and confidence.<\/p>\n

\u201cShould a Conservative majority be returned next month, I believe that the pound will reach $1.35.\u201d<\/p>\n

Mr Green goes on to add: \u201cThe pound will also be given a boost as the agreement is a serious hammer blow for Jeremy Corbyn\u2019s Labour party.<\/p>\n

\u201cHis anti-business rhetoric, and high tax and low-profit policies would lead to considerable and sustained selling of the pound.\u201d<\/p>\n

Last week, the deVere CEO noted: \u201cI believe we can realistically expect a Corbyn government would trigger an exodus of the country\u2019s most successful and wealthiest individuals who contribute significantly both directly and indirectly to the British economy.\u201d<\/p>\n

Nigel Green concludes: \u201cSterling\u2019s outlook will become increasingly bullish over the next few weeks if the Conservatives continue to do well in the polls in the run-up to the election.\u201d<\/p>\n

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

By George Prior The pound will receive a welcome boost after Nigel Farage\u2019s Brexit Party will not be pitted against the ruling Conservatives in almost 320 seats in next month\u2019s election, affirms the boss of one of the world\u2019s largest independent financial organizations. The upbeat message from Nigel Green, founder and CEO of deVere Group […]<\/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-159573","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159573","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=159573"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159573\/revisions"}],"predecessor-version":[{"id":159574,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/159573\/revisions\/159574"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=159573"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=159573"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=159573"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}