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Mark Michaels

What are the implications of a no-deal Brexit for foreign exchange markets?


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On 7/29/2019 at 10:07 AM, Sam Rondon said:

A no-deal outcome concerning Brexit could bring “unforeseen and sudden surges in volatility”, said Michael Boutros, currency strategist for DailyFX.com. Boutros added that depending on the Brexit situation, challenging times for traders could lie ahead, warning them to plan their moves carefully.

His warning is based on how Brexit chaos made it much more difficult to predict the price of sterling, saying buyers should “exercise stricter risk management in any GBP-based setups.”

A dark cloud moved over the forex markets following the Leave vote and the pound’s value declined against the US dollar. The pound continues to show weakness against the US dollar as the “deal or no-deal” situation remains unresolved.

The only thing that would almost completely heal the British pound is if Brexit doesn’t happen, which is an outcome that doesn’t seem likely at all with Boris Johnson, a supporter of the Leave vote, recently becoming the prime minister.

Very good answer 

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