Brexit Deal Gives More Opportunity to FX Brokers

British prime minister Boris Johnson said on Thursday that the UK has reached a deal with the European Union regarding Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term.

“We’ve got a great new deal that takes back control — now Parliament should get Brexit done on Saturday so we can move on to other priorities like the cost of living, the NHS, violent crime and our environment,” tweeted the British premier.

The announcement sent further tremors through the foreign exchange markets, which have been particularly erratic over the past week.

“As expected, we are entering a volatile phase of Brexit, which is causing large swings in sterling pairs,” said Hormoz Faryar, global head of institutional sales at Equiti Group.

Not all on board

Jean-Claude Juncker, the president of the European Commission, also released a statement on Thursday. The commissioner said that the deal would lead to a “fair and balanced agreement for the EU and the UK.”

But not everyone was positive about the deal. The Democratic Unionist Party has said that it cannot support the proposed agreement.

In a statement, the Belfast-based party said that some of the terms of the deal, relating to VAT and customs issues, were unacceptable.

“We will continue to work with the government to try and get a sensible deal that works for Northern Ireland and protects the economic and constitutional integrity of the United Kingdom,” said the party.

Any deal will also have to be approved by the British parliament, something that MPs have been reluctant to do in the past.

In the meanwhile, FX Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term continues to sore - a positive for FX brokers and CFD providers who stand to make good gains from the upheaval.