This is the day yet. Leaders of Great Britain and the European Union meet in order to start lengthy negotiations, the aim of which is to get the United Kingdom out of the European Union.
However, this process begins during a strong political instability in the UK, followed by disappointing parliamentary elections, two weeks ago.
The Conservative Party of Prime Minister Theresa May had to conclude an informal agreement, while the party tried to get a majority in the House of Commons. EU leaders can use this situation for their own purposes during the negotiations in the next few months.
Meanwhile, domestic issues continue to affect UK market sentiment. The fire in the Grenfell tower claimed 58 lives, and this morning a new terrorist attack was made in Finsbury Park. Recently, tragic events also occurred in Manchester and London.
You can not even utter in the rumor that market players are not big fans of the unknown and their fear has instant visible implications for investment. With the exception of the FTSE 100, the British pound sterling is one of the most interesting currencies worth paying attention to.
The pound was trading at 1.2804 against the dollar, adding 0.19 as of 09:00 GMT. Compared to the euro, the exchange rate of the pound sterling was 1.1435, which is 0.18 percent higher.
This morning on the stock exchange, the FTSE 100 futures were up 0.25 percent as of 08:50 GMT, slightly exceeding 7.451. FTSE 250 was up 0.13 percent, being at 19.844. The weakening of the pound sterling supports the stock market.
Trading activity will be restrained in front of the first day of the meeting on Brexit. Trade within these limits will continue throughout the day / week.
Key Dates in June
June 19 – the start of negotiations on the Brexit in Brussels
June 21 – Theresa May’s administration will present the legislative process in the Queen’s speech.
June 22/23 – EU leaders meeting in Brussels