Who Or What Can Stop The Sterling Slide?

[Djamel Brahimi]

[Guest Sam Bouman]

The pound has fallen to the lowest levels in four months and it seems as though there is nothing on the horizon that could possibly change this.

As we know this enormous drop in value is down to one thing only - Brexit. Even with another extension to the 31st of October it still seems that we are still no closer to seeing this resolved.

In the latest developments and attempts of prime ministerTheresa May to get her deal passed at her speech yesterday she announced what seemed like some concessions in order to get MP’s on side to get her deal passed through parliament. 

The main takeaway from the speech was that PM May has offered a vote on a second referendum but in order to achieve this first MP’s will need to vote for her deal before there can be any vote on a second referendum in parliament. This seems like a ploy in order to get her vote passed through, something that seems to have not worked.

After the speech many MP’s have come out and refused to back the amended deal on the table and it now seems that May will almost certainly have to leave her job after the vote on the week of the third of May. 

What is less clear is how the UK will be able to stop the Brexit chaos and the slide in the GBP, with no clear majority for any side in parliament it seems that this will carry on for a lot longer which does not bode well for any sterling strength.