BREXIT and subsequent events

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CEOCambodiaNews
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Re: BREXIT and subsequent events

Postby CEOCambodiaNews » Sat Jul 09, 2016 6:23 pm

The pound is taking a serious pounding. This means that British ex-patriot pensioners and those earning pounds overseas will feel the pinch.
The pound has beaten the Argentine peso to become 2016's worst performing currency after it plunged to a 31-year low in the aftermath of the decision to leave the EU.

Sterling dipped below $1.30 for the first time since 1985 in the second week after the European referendum.

It had rebounded slightly to trade at $1.29 against the dollar by the end of the week.
That brutal tumble means the pound has overtaken the Argentine peso as the biggest loser against the dollar among 31 other major currencies in 2016.

Some analysts are convinced the pound still has further to fall, with some predicting lows of $1.20 against the dollar in the next three months.
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http://www.independent.co.uk/news/busin ... 27246.html
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Re: BREXIT and subsequent events

Postby CEOCambodiaNews » Mon Oct 03, 2016 10:08 pm

Pound drops again over Brexit concerns.
We've been here before. Think back to that fateful day in June when the world woke up to the fact that the UK had voted to leave the European Union.

Brexit's impact in Asia was dramatic, to say the least. Sterling slumped in Asian trade. Investors panicked and, as I said at the time, the uncertainty was only just beginning.

Fast-forward three months. The UK has a new prime minister, a new-ish government, and now a new time-line for when Brexit will begin.

So now that some of that uncertainty has been taken out of the equation, you would think that investors in Asia would breathe a sigh of relief?

Nope. While the pound hasn't dropped as dramatically this morning as on the day of Brexit, it has seen its value sink by about 0.5%...
http://www.bbc.com/news/business-37540866
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Re: BREXIT and subsequent events

Postby CEOCambodiaNews » Thu Nov 03, 2016 5:58 pm

UPDATE: Surprise ruling by the High Court means that the government must get parliamentary approval to trigger Brexit.
Campaigners have won their High Court battle over Theresa May's decision to use the royal prerogative in her Brexit strategy.

In one of the most important constitutional cases in generations, three senior judges ruled the Prime Minister does not have power to use the prerogative to trigger Article 50 of the Lisbon Treaty to start the UK's exit from the European Union - without the prior authority of Parliament.

The ruling against the Government was made by Lord Chief Justice Lord Thomas, sitting with two other senior judges in London.

The Government has been given the go-ahead to appeal against the ruling at the Supreme Court.

Unless overturned on appeal at the Supreme Court, the ruling threatens to plunge the Government's plans for Brexit into disarray as the process will have to be subject to full parliamentary control...
http://www.independent.co.uk/news/uk/po ... 94821.html
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Re: BREXIT and subsequent events

Postby boozyoldman » Thu Nov 03, 2016 6:17 pm

The markets panicked on the news of the BREXIT vote and the pound plummeted.

In justice, the pound ought to soar up like a driven pheasant.
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Re: BREXIT and subsequent events

Postby boozyoldman » Thu Nov 03, 2016 6:48 pm

No sign of a dramatic recovery so far; this was the result of consulting xe.com a minute ago:

1 GBP =1.24164USD
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Re: BREXIT and subsequent events

Postby CEOCambodiaNews » Fri Nov 04, 2016 8:58 am

This news will not improve the uncertainty of what happens next, so don't expect the pound to gain ground while "guerilla warfare" is being waged in parliament.
Theresa May is braced for guerrilla warfare in Parliament in order to drive through Brexit, after the shattering blow of defeat in the High Court.

The Prime Minister accepts an Act of Parliament will be necessary to win the right to trigger the Article 50 exit notice - unless yesterday’s judgment can be overturned in the Supreme Court.

That would open the door for MPs and peers to challenge and amend – and even stall - the Government’s strategy for withdrawal if they oppose aspects of it, perhaps in lengthy Parliamentary battles.

It means Ms May has lost some control over the perilous process – throwing into doubt her timetable for invoking Article 50 by the end of March.
http://www.independent.co.uk/news/uk/po ... 96401.html
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