Brexit: Approaching a year on
Nearly a year after the outcome of the referendum of the UK electorate became known, Article 50 has been triggered and an election called but uncertainties remain.
Markets have now recovered strongly (with a notable improvement when the UK general election was called) and the pound is the best performing G10 currency this year against the US dollar. Interest rates remain low. Indications seem to be that the UK is faring well with a strong and growing economy.
The UK Government has acted to increase the focus on international trade. The assumption is that the importance of international trade will continue to be emphasised if, as widely anticipated, Theresa May forms a new government post-election.
Commentators suggest that now a large majority of the UK public support Brexit with a new category – Re-leavers – being identified who voted to remain but now believe that leaving is both inevitable and, in all the current circumstances, the correct thing for the UK to do. The FT has reported that 68% of the UK electorate are either Leavers or Re-Leavers.You can download the full report here.