Sterling on the rise as investors look to trade war and Brexit uncertainty
- 1 month ago
The FTSE 100 fell by 0.4% this morning as it tracks losses in global stocks as investors' sentiment took a more thoughtful and less positive outlook on the U.S.-China trade war.
Sterling rose to 0.9% too after news broke out that Britain can revoke its departure notice if so they wish to do so.
The pound was trading at 1.2806, up from 1.2720 against the greenback.
Scottish lawmakers have pursued a legal ruling on whether Britain’s request under Article 50 to leave the European Union could be revoked before the March 29 deadline.
Stern opposition has come from the U.K. Government who see this as just a delay to the whole issue.
Nevertheless Brussels has become somewhat worried upon the discovery of such clause as it potentially gives other countries leverage should they not be happy with E.U. policies.
Leaving the probable outcome a second referendum where the British people will vote to decide whether they really want to leave the E.U. or not.
Source: Smart Trend Team