“Do or die”, the spooky words uttered by Prime Minister Boris Johnson. The same words that reveal his much-heralded Halloween deadline to be more trick than treat.

And as yet another Brexit deadline passes, Britain once again finds itself in limbo, waiting for an early general election on December 12th.

More than 1,200 days after Britain voted to leave the EU, Britain is indeed still part of the European Union.

Three Prime Ministers, three Brexit secretaries, two general elections, and one more on the way. It seems the UK is struggling to reanimate the Brexit zombie.

According to S&P Global figures, Brexit has cost the British economy approximately £66 billion. That’s roughly £1,000 per person. The decision to leave the EU has had an unstoppable effect on the country’s collective wallet.

GBP has fallen by 13% against the USD since the vote. But contrary to the gathering clouds, GBP rose today, with the potential to see its biggest one-month rise in more than a decade.

Against the USD, the pound rose 0.3%, while gaining 0.2% against the euro.

Perhaps the falling risks of Britain leaving without a deal have fuelled the demand for the pound.

Does the volatility of the markets confuse you? Be sure to read our Brexit report, which is all about trading GBP volatility safely.  Fund your account to trade the markets.

TIO Staff

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