“In extreme cases, this could trigger a departure from the Brexit process”
“In extreme cases, this could even trigger a departure from the entire Brexit process.” This is how Neil Wilson, financial expert at broker ETX Capital , comments on the announcement by British Prime Minister Theresa May that new elections will be held on June 8th this year. The pound was not unaffected by the head of government's statement, which was scheduled to take place at short notice today, Tuesday.
New elections give pound boost
Shortly after May's announcement due to the disagreement in Parliament over the already initiated Brexit, the British currency began to lurch and temporarily lost more than half a percent of its value.
However, when new elections were announced, the pound returned to its original level. Most recently, one pound was worth $1.2575 again, after the currency had temporarily fallen from this level to $1.2516.
However, because the pound has recovered following the announcement of new elections, this does not mean that Great Britain's exit from the European Union, which has already been initiated in Brussels, is seen by the markets as an open question. May took over as prime minister in July 2016 after the resignation of her predecessor David Cameron.
It is believed that May is trying to obtain her own mandate for the negotiations on Britain's exit from the EU with a new election. The politician had previously declared that she would remain in office until the next regular election in 2020.
Source: Pressetext.com
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