Pound to rally following Brexit delay

The pound is expected to rally following the news that EU leaders have agreed a delay to Brexit to 31 October along with a review in June.

DeVere Group’s CEO Nigel Green said the rally will come “as investors digest the news that Brexit negotiations have longer to run, and the UK will not crash out of the EU on Friday, and the likelihood of a softer Brexit is significantly increased”.

“A softer Brexit would be welcomed by businesses in the UK and those around the world that trade with Britain,” he said.

“Investors are advised to now be on the watch for this relief rally in Sterling, UK stocks, and also a mini spurt in economic activity in the UK, as delayed household and business spending takes place.”

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