Boris Johnson yesterday sent a clear message to MP’s that there will be no way of stopping Brexit and at the end of October either way the UK will be leaving the EU. Whilst people have suggested that there could be the potential for an extension, something Boris Johnson has made clear he has no interest in especially as the last extensions have achieved nothing more than a return to the same situation.

Donald Trump over the weekend also added a boost to Boris Johnson claiming that the EU is the anchor which is holding the UK back. The US President is clearly very keen to try and organise a deal quickly with the UK and I wouldn’t be surprised if most of the discussions surrounding this haven’t already taken place especially as the target is for a deal to be completed within one year. Trump was very complimentary of the UK Prime Minister, making it clear that he is more of a fan of Boris than former Prime Minster Theresa May.

UK Covid Cases Rise

Final week of UK Recess

MP’s will be finishing off topping up there tans this week as they  return to Parliament on 3rd September. This will leave just under two months before the Brexit 31st October deadline, you may expect to see an increase in comments coming from Members of Parliament this week.

Jeremy Corbyn has previously threatened a vote of no confidence so we may start to understand the mechanics of his plan with the prospect of a general election, which may be one of the only ways to influence Boris Johnson’s plans.

This morning Corbyn has written a column in the Independent today which suggests a no deal Brexit would leave the UK at the mercy of Donald Trump and the US.

He also went on to say that a no deal Brexit would be a Trump-deal Brexit and accused the PM of cosying up to Trump and partnering with the world’s biggest economy may not be such a bad idea considering Britain’s circumstances.

Data this week

This week is fairly quiet for data with the focus much like previous weeks on the political side of things. The one release of note is the Consumer Confidence figures on Thursday, this can have an effect as confidence figures are an indicator for future GDP and sales data. If you do have an upcoming sterling transaction, the next few weeks look set to be volatile so you may wish to keep in touch with your account manager.

Download our monthly currency forecast

Download here


Read more articles


Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.