British MPs have voted overwhelmingly in support of Theresa May to initiate Article 50 by officially notifying the EU of “the United Kingdom’s intention to withdraw from the EU.”
While there are many more votes and debates along the way, most agree the UK will meet its deadline of March 31st to initiate Article 50.
With all the anticipated market volatility surrounding Great Britain’s withdrawal for the European Union, it’s well worth preparing your position in these currency pairs: EUR/GBP, GBP/USD and GBP/JPY.
The euro has spiked sharply against the Pound sterling (EUR/GBP) in reaction to last week’s events.
On Monday at 07:00 GMT, the currency pair was trading at 0.862 (-0.17%).
Will the volatility continue as Brexit woes persist?
Brexit’s Major Milestones
31 March 2017 – Deadline to invoke Article 50
30 September 2018 – Deadline to finalise negotiations with EU
May 2019 – Following ratification by all member states, Britain officially exits the EU
*For general information only. Losses can exceed deposits. Not intended to provide trading or investment advice.