How will Brexit affect your currency?

Brexit continues to dominate the news and Foreign Exchange markets.

Another day, another Brexit story, and more uncertainty. This week the always moving car industry in the UK urged the government to provide clarity “within months” because investment decisions cannot be postponed much longer. Does this mean that they are considering moving production to other countries in the event of a “no deal”?

On a local level, the question persists without an answer forthcoming, of what will happen to the border between NI and the Republic in the no deal scenario. Whilst there has been much talk of ensuring that nothing will change, this must be an impossibility in the case of a hard Brexit. Our border will become the only land frontier between the UK and the EU, so it is difficult to see how nothing will change.

One has to hope that the powers that be are putting more thought into this than they are letting on!

2017-11-08T11:49:31+00:00 October 17th, 2016|