Tim Riddell, Research Analyst at Westpac, suggests that Brexit and UK’s political uncertainty continue to weigh on GBP. Key Quotes “PM May’s post-Brexit plans have heightened divisions within her minority Conservative Govt. Every amendment vote on the plan now carries the risk of failure and a destabilising leadership challenge.” “So far the plans are scraping through. If passed, discussions over actual exit could resume, notably over the Irish border. That would be seen as providing a softer Brexit, probably with a longer transition period, and would lift GBP. However, Parliament’s summer recess is imminent and so any failure will increase the sense of uncertainty and weigh on GBP.” “Brexit remains a concern, but recent activity data have been solid and Carney’s seems more confident on the economy. Despite the pull back on lower CPI, potential for an Aug. 25bps rise remains high, though probably stressing BoE’s gradual (dovish) guidance.” “Unless an actual political crisis develops, GBP/USD’s risk-driven 1.28-1.37 range should hold and allow for interim but limited rebounds, given current USD strength.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Litecoin price analysis: LTC/USD is edging higher on the day supported by the 50 SMA FX Street 5 years Tim Riddell, Research Analyst at Westpac, suggests that Brexit and UK's political uncertainty continue to weigh on GBP. Key Quotes "PM May's post-Brexit plans have heightened divisions within her minority Conservative Govt. Every amendment vote on the plan now carries the risk of failure and a destabilising leadership challenge." "So far the plans are scraping through. If passed, discussions over actual exit could resume, notably over the Irish border. That would be seen as providing a softer Brexit, probably with a longer transition period, and would lift GBP. However, Parliament's summer recess is imminent and so any failure will increase… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
