No-Deal Brexit Still Very Much a Possibility

The possibility of a no-deal Brexit is still very much real.


The interim director general of the Institute of Directors, Edwin Morgan, has stated that the possibility of a no-deal Brexit is still very much real. While speaking to Bloomberg, he also stated that many businesses could still be unprepared for such a scenario taking place in October.

Given that Parliaments keeps voting out the Brexit deal repeatedly, it is possible that Britain exits the EU without any deal in hand after the October deadline. After all, there are only so many chances even the EU can give for Britons to make up their mind, right?

PM Theresa May continues to be pressurized by her party members to make headway in cross-party talks with the opposition Labour Party or to make way for some other leader who can make it happen. Even though the Parliament has voted down the possibility of a no-deal Brexit, Morgan maintains that this remains more possible than they care to admit.

On Tuesday, GBP/USD continues to trade under the 1.30 level, with no optimistic developments on Brexit forthcoming.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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