OctaFX | OctaFX Forex Broker
Open trading account
Back

Does UK stay part of the EU? - BBH

FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes the conditions surrounding recent political events in the UK.

Key Quotes:

"There had been some concerns that a small victory for the unionists would spur concerns that this will be a recurring issue as some drew parallels with the Quebec experience. While we recognize this as a possibility, we suggest this is not an immediate issue."

"The victory appears to be solid, and the terms of the referendum were as favorable for the nationalists as could be imagined (16-year old voters, non-residents can't vote and a simple majority was needed)".

"The main political issue now is not whether Scotland stays in the UK, but whether the UK stays part of the EU. Cameron faces a backbencher revolt over the issue and a UKIP that enjoys some momentum."

EUR/USD lowest weekly close since June 2013

The euro reached on Friday a fresh 14-month low against the US dollar around 1.2830 and finished trading at the lows, losing 120 pips for the week. The last time EUR/USD posted a weekly gain was in July; since then it has fallen almost 800 pips.
Read more Previous

US stocks close the week positive on renewed optimism

Wall Street welcomed Alibaba and Scotland decision to remain in the United Kingdom with gains as the Dow Jones finished the week at record high; however S&P and the Nasdaq closed negative on the day.
Read more Next
Start livechat