The British pound fell after parliament rejected the government’s programme motion to accelerate the timetable for the withdrawal bill, with 308 votes in favour and 322 against. The defeat means that the government will now be unable to leave the EU before the end of October. The potentially good news for the pound and politics more generally, is the likely elimination of a no-deal scenario, as the EU has shown its willingness to offer an extension to Britain’s 31 October deadline for leaving the bloc.

Jeremy Stretch, head of G-10 currency strategy at Canadian Imperial Bank of Commerce, said in a Reuters report that, “For now it seems the market is still generally expecting this is a setback, but not a fatal setback, to a negotiated Brexit. There hasn’t been a rapid uptick in no-deal pricing at this point.”   

Junichi Ishikawa, senior foreign exchange strategist at IG Securities in Tokyo, added that, “The pound will adjust in a narrow range for the time being. For now, the risk of a no-deal Brexit has receded, but there are still political uncertainties.”

The EU wants to avoid a detrimental no-deal Brexit, as a former Tory Europe minister, also confirmed on the BBC’s Today programme. He said that the EU would not want to be blamed for a no-deal Brexit, so they will offer an extension. As many MPs noted, he said that the withdrawal agreement bill was bigger than many anticipated, and that the government should offer more time in order to get it through parliament. He said: “I see no way that the October 31st deadline can be met anyway now the bill has been paused in the commons. I think the fear in Downing street is partly of rafts of amendments to the bill, but also about the difficulty of governing without a majority ... There are broader questions that underly the disputes about the timings of the Brexit bill.” For him, an election at the end of November or early December was possible but the public won’t be very open to an election just before Christmas.

What happened on Tuesday?

While the withdrawal bill was passed by MPs on its second reading, by 329 votes to 299, 20 minutes later, the government’s programme motion was defeated. The news of passing the Brexit deal was welcomed by the government as Johnson praised MPs for having “embraced a deal.”

But the defeat on the programme motion by 14 votes is a significant blow to the government and could derail the process. 

What is a programme motion?

A programme motion is put forward after a government bill has passed its second reading and can be used by the government to set the timetable for debating it as it progresses through the House of Commons. The defeated programme motion on 22th of October argued for a very specific and limited timetable which allowed three Commons days for the entire process– giving enough time so the UK could leave on 31October. The argument goes that the proposed timetable was narrow and didn’t leave enough time for debate.  

What happens now?

On Saturday, Johnson wrote to the EU to formally request a delay to Brexit until 31 January. After the defeat on Tuesday, he noted that would “pause this legislation” and await from the EU to grant a possible extension. While during Tuesday’s debate Johnson promised to pull the bill and seek an election if there was an extension, he left the possibility of a short delay open. As he said afterwards, “One way or another, we will leave the EU with this deal.” 

A general election is, however, likely, especially if the EU proposes a lengthy delay. With a no-deal Brexit no longer in the cards, it is expected that Labour will support a general election.

Many believe, that despite his declarations against a lengthy delay, Johnson aspires to be the prime minister known for delivering Brexit, so he might attempt to push the bill through parliament before an election.

Paul Dales, Chief UK Economist with Capital Economics, said that a short delay is now possible and would not hurt the pound: "A delay to Brexit now appears the most likely scenario and the chances of a near-term deal have diminished a bit. A short delay to finalise a deal would not be a blow to economic growth and the pound, especially if it were followed by a deal that would eventually prompt both to rise. In that case, we suspect the Pound would climb pretty quickly."

On a lighter note, Guy Verhofstadt tweeted that on the event of an extension, he would be submitted to “another three weeks listening to Farage,” whose Eurosceptic rhetoric is not sonorous to European ears.

Transferring funds abroad?

Are you transferring your hard-earned money overseas while the pound is buffeted by Brexit news? Get in touch with leading foreign exchange specialists Universal Partners FX now and find out how they can assist you with your international money transfers. Their expert currency specialists can help you gain access to the best exchange rates possible, while managing market volatility and protecting your money from currency fluctuations.

Why Does Politics Impact Currency Exchange Rates

Why Does Politics Impact Exchange Rates?

When it comes to factors that impact global currency rates, political influence sits pretty high on the list of contributors.

In fact, political events are actually one of the very biggest influences on foreign exchange, with the ability to transform currency value in an instant.

So, how and why does politics impact currency rates - and how do you protect yourself against this?


Political Factors That Influence Currency

A currency value is influenced by much more than just interest rates and inflation, and even the savviest of financial experts can find themselves caught off-guard when it comes to political influence on a currency.

As such, knowing how politics works in relation to foreign exchange can be a helpful insight to have. To help get you started, here are a few of the most common political factors that influence currency rates.


Political Stability

A country that is at low risk of political unrest poses a far more attractive proposition to foreign investors. As a result, political stability can have a dramatic effect on currency rates. Protests and serious inquiries into government conduct can destabilise the economy and weaken the currency.



Despite the fact that they occur in virtually every country across the globe, an election can have an impact on currency value as they too can be perceived as a sign of impending political uncertainty. Tightly contested elections with candidates with wildly different economic policies can cause a great deal of uncertainty for investors from overseas. As these events are foreseeable, a lot of businesses set up forward contracts if they think that the election result could hurt the value of relevant currencies.


Government Debt

While substantial national spending is a necessary evil in the pursuit of funding economy stimulating projects and government activities, large public debt can act as a deterrent to foreign investment.

If a country gets itself into sizeable national debt without a realistic plan on how to handle it, the risk of defaulting is high and can negatively affect the value of its currency, thus impacting the exchange rate.


Trade Terms

In its most basic form, terms of trade highlight the relationship between import costs and export price, related to the country’s current account and balance of payments.


Political Conflict

Political conflict and war can be devastating to a country in a myriad of ways and the economy is far from exempt.


Global Pandemics

In the event of a disease spreading across borders, the impact to the economy and currency rates would be huge, particularly if the spread was serious enough for industries to shut down and lockdowns were imposed, should that be the political decision to do so.


Not All Doom and Gloom

It’s worth noting that, even in the event of a political issue causing a currency decline, the chances of that decline remaining in its depreciated state are unlikely. In currency timing is key, and expert guidance is a great way to protect your business or make sure that your foreign payments are made at a time that maximises value. Risk management tools are designed o offer layers of protection against political events.


For more information on political influence on currency, why not get in touch today? Speak with one of our experts by calling 020 7190 9559 now or drop us an email by clicking the button below.

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The pound has been experiencing its ups and downs but was knocked down on Thursday morning due to a statement by the DUP. After it had reached four and five-month highs against both the dollar and the euro in a week that was filled with expectation for a deal, Thursday morning’s setback wiped away most of yesterday’s gains. However, if a deal is announced, it is expected to rise again.

Brexit deal and the pound

Talking to BBC Radio 5 Live's Wake Up To Money, Neil McDonnell, chief executive, ISME, representing over 10,000 small and medium sized Irish business, said that positive news in regard to the deal will be good news for the pound, and for the Irish economy too. He said: "For business people, what you don’t want is an enormously complex or administration heavy transaction. One of the industries that have been most badly affected by Brexit has been the mushroom sector because of the decline in sterling. ‘Good news’ out these latest talks might help sterling bounce. Any appreciation in sterling would make things considerably better for people on this side of the border."

Talking on the same show, James Bevan, chief investment officer at CCLA Investment Management, added: "[There's] a general expectation that Mr Johnson will secure a deal with the EU so the currency markets have been relatively strong…. Let me be very clear, the pound is undervalued if there is a deal.” But it could hit parity with the dollar in the absence of no deal.

DUP concerns

The DUP’s statement from Arlene Foster and Nigel Dodds said that “as things stand, we could not support what is being suggested on customs and consent issues and there is a lack of clarity on VAT. 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.”

The statement clarifies that the DUP is unable to accept the deal as it stands but remains open to discussions. This could mean that the ball is now in the EU’s court and that Michel Barnier would need to compromise on the customs arrangements, consent and the issue of VAT.

What could happen now?

It is possible that the Prime Minister Boris Johnson proceeds to offer more concessions, but this is unclear and could possibly destroy the possibility of a deal.

But, it could also lead to the EU compromising. This is also a complex possibility as the issue of borders is a significant obstacle, and the EU is concerned with protecting the single market from the movement of rogue goods. Without border checks this is not a viable alternative.

A third possibility would be a change from the DUP itself. They have already stated: “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”. So, there may be changes.

Pound and headlines

Volatility will continue as headlines will affect the price of the pound, with further changes through the course of the day. With ongoing negotiations between the EU and UK, and the EU summit commencing on Thursday, markets will be vigilant awaiting confirmation that the two sides have reached an agreement.

According to Quek Ser Leang, a currency market analyst quoted on Pound Sterling, "While the current rally is overbought, it is too early to expect a sustained pull-back. There is still room for further GBP strength but the pace of any advance is likely to be slower.”

Analyst Kim Mundy, with Commonwealth Bank of Australia, also agrees that a deal could boost the pound: "The EU’s leader’s Summit begins today. Market participants are waiting for confirmation (or otherwise) that the EU and the UK have reached a new Withdrawal Agreement. News of an EU‑UK deal today could see GBP/USD hit a fresh five‑month high above 1.3000."

Transferring funds abroad?

If you are worried about currency volatility and the uncertainty over Brexit, contact a foreign exchange specialist such as Universal Partners FX. UPFX’s experts have years of experience in transferring money overseas delivering funds safely and securely. If you want to safeguard your finances or your business, avoid huge bank fees and get competitive rates, UPFX is your choice. Get in touch with them today, to get the best deal on your international money transfers.

With the EU asking for more concessions from the UK, the pound fell against both the dollar and the euro. Despite optimism that Britain and the European Union will be able to come to an agreement and strike a Brexit deal this week, the pound was hurt by the realisation that there’s still a long way to go.

On Monday, the PM's official spokesman told journalists that "Talks remain constructive, but there is a lot of work still to do." Similar were also the comments by Ireland's Tanaiste (deputy prime minister) Simon Coveney: "A deal is possible, and it's possible this month," Mr Coveney said. "It may even be possible this week. But we're not there yet."

Last week, Sterling rose higher on the possibility of the UK and EU finding common ground. However, the outlook is now more measured and expectations on Brexit negotiations are constrained, something that has helped to pull Sterling back down. With EU leaders fearing that Johnson will not manage to pass Brexit in Parliament, uncertainty will remain.

Getting Brexit done

In the meantime, in Brussels, both sides are trying to reach a Brexit deal before Thursday's summit of European leaders, despite the "big gaps" as senior EU official Michel Barnier called the existing differences between the UK government and EU. 

On Thursday (17 October), the two-day summit of EU leaders will begin in Brussels and is the last meeting scheduled before the Brexit deadline. On Saturday (19 October), there will be a special sitting of Parliament. In case there’s no Brexit deal approved by MPs and no agreement about the UK leaving with no-deal, Saturday will also be the day that the PM will have to ask the EU for a delay to Brexit under the Benn Act.

Both sides are willing to agree a deal before the EU summit on Thursday and Friday, and, hopefully, that will enable the government to introduce a withdrawal agreement bill to be voted in a special Parliamentary session next Saturday. However, many remain pessimistic, including EU officials, with one senior figure describing the possibility of reaching a deal at the summit "ambitious." According to Tony Connelly, Europe Editor for Irish state broadcaster RTÉ, "Following two days of intensive talks the two sides are still far apart on customs. The EU side continues to have grave concerns about the UK proposals to keep NI in the UK customs territory, with Theresa May's old Customs Partnership idea being recycled and adapted for NI.”

Before the European Council summit starting on Thursday, markets will be waiting to see the developments before commenting on the pound’s future. Markets remain hopeful as long as there are ongoing talks. However, both sides would need to come to an agreement on the issue of the Irish backstop, ideally avoiding a hard border with Ireland. 

According to The Times, EU negotiators have requested more concessions from the UK, with the EU’s Chief Brexit negotiator Michel Barnier, describing Britain’s proposals unacceptable. Barnier told David Frost, Britain’s chief negotiator, that “Mr Johnson would have to give further ground on a customs agreement for Northern Ireland,” if a deal were to be struck.

Boris Johnson needs more backing for Brexit deal

In order to pass a new Brexit deal through parliament Boris Johnson will need support from both Eurosceptics and pro-deal Labour MPs. He will need to win over all the 28 Tory “Spartans”, as well as get help from the DUP or Labour backbenchers.

In a loyal address after the Queens speech on Monday, Lee Rowley, a Conservative MP expressed his position on Brexit and how it was necessary to get it done: “If there is light at the end of the tunnel later this week, and heaven knows I hope there will be, we have a fundamental responsibility in this place to try and resolve this most vexed of problems and allow our despairing country to move on. For the health of our democracy and to restore faith in this most venerable of institutions, in my view we simply must get Brexit done.”

Eurosceptic Steve Baker, was positive of a deal as he said, “Boris has had a dramatic shift towards a free trade agreement that would leave us a self-governing nation … So now really, the devil is in the detail … I am really looking forward to being able to vote for a tolerable deal but, until we get the text, I cannot tell you what we are going to do.”

Others expect to see more in order to vote for a deal, including reassurances on Northern Ireland, workers’ rights and environmental protections.

Whether a deal is possible, it will be obvious within the next few days. The government will have to table a motion by Wednesday if it wants MPs to debate an agreement on the Saturday sitting. If the UK agrees to make concessions to the EU, there is the risk of the deal not passing through the House of Commons with the DUP and Brexit hardliners not supporting it.  

It is within this context, that foreign exchange analysts are not hopeful that a deal could easily pass in the House, something that will lead to another Brexit extension and a snap General Election.

Markets are now cautious as they await proof that the new Brexit deal can pass Parliament before bidding Sterling to rise higher.

Transferring funds?

Are you worried about currency volatility when moving your money? Foreign exchange specialists, Universal Partners FX  can help you transfer your funds overseas fast, safely and cheap. Get in touch with them today to find out how much they can save you on your international money transfers.

What is the FCA


If you are involved in the financial services industry, chances are that you have come across the initialism of FCA.

In this context, FCA refers to the Financial Conduct Authority – the UK’s financial watchdog tasked with keeping an eye on the financial business across British shores.


What is the FCA?

In a nutshell, the Financial Conduct Authority (FCA) is an independent regulatory body that provides regulatory services to the financial services industry in the UK.

Despite operating completely separately from the government, the FCA is the conduct regulator for over 59,000 financial services firms and financial markets in the UK.


About the FCA

Following the perceived failure of the banks during the infamous financial crisis of 2007/2008, the UK government conceded that restructuring was necessary for the field of financial regulation.


What Does the FCA Do?

According to the official FCA website, the primary operational objectives of the authority are to protect consumers, protect the integrity of the financial markets and promote effective competition between financial service providers in the best interests of the consumer.

With an extensive remit that covers a wide range of stakeholders, the FCA takes a proportionate approach to regulation, prioritising those that pose a higher risk to their objectives in pursuit of maintaining their goals.


The FCA and HM Treasury

Despite being a sovereign entity acting independently from the government, the FCA is still accountable to HM Treasury. The purpose of this is to ensure that the work of the FCA helps the financial market remain honest, fair and effective, with the ultimate aim of keeping the industry stable.

This condition is outlined in the Financial Services and Markets Act 2000 (FSMA). The FSMA notes that the Treasury may make recommendations to the FCA at any time about aspects of the economic policy it deems necessary of consideration, provided written notice is given.

This includes how to act in a way which is compatible with the FCA’s strategic objective and how to advance one or more of its operational objectives, in addition to other criteria outlined in the FSMA.


The FCA and Universal Partners

By now you may be wondering “What does all this have to do with Universal Partners FX?” The answer to that question is quite simply “a lot”.

Universal Partners FX currency exchange services are provided by The Currency Cloud Limited. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money.

As a financial service that operates under the jurisdiction of the FCA, Universal Partners is bound to adhere to the FCA objectives of competitive, consumer-protected activity, meaning that consumers can rest assured they are getting a safe, secure and fair service.

For more information on our services or any FCA queries relating to us, why not drop us a line today? Call now on 020 7190 9559 or get in touch online by clicking the button below.

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With the Brexit deadline looming, many Brits are relocating or buying their property abroad, making such European countries as Spain, Germany and France their home. In Germany, the standard is usually renting, but when Germans are making their dream of owning “my own four walls” (die eigenen vier Wände) a reality, then they expect to buy a property to live in for life. This is not unlike many of the Brits deciding to buy a property in Germany. German property has generally been a stable, reliable investment for local and overseas investors.

Brexit and the German property market

It’s not just Brits wanting to escape to Germany, but also international investors who are considering investing due to Brexit and the ensuing financial uncertainties. Buying property in Germany may be a great option, especially when the German economy is healthy and the property market is strong, with prices rising steadily. While Brexit might have deflated London’s real estate bubble, very low interest rates are pushing prices in Germany’s Munich and Frankfurt property markets. With prices rising steadily for years, there is greater risk of them falling unexpectedly.

Low interest rates

In Germany, low interest rates have helped increase real estate valuations. The European Central Bank’s loose monetary policy and low interest rates have benefitted owners of financial assets who have borrowed at very low costs to buy property or stocks in search for better returns.

According to a new report by analysts at Swiss bank UBS, Munich is at the greatest risk of a real estate bubble, while Frankfurt has seen prices rise by double-digit percentages. Frankfurt used to be "very cheap compared to London and other cities,” told CNN Business, one of the report's authors, Matthias Holzhey. While building activity in Frankfurt rose significantly in 2017, the rise in population led to an 80% increase in real price growth over the past decade, the report showed.

Germany as “safe haven”

Germany is a great European alternative to London’s traditional appeal, with Frankfurt and Berlin being particularly high in demand. Germany has a reputation as a “safe haven” making it attractive to buyers, with an increasing number of international investors from Asia, the Middle East and the United States.

In general, across Germany, rents and property prices are robust, but whether this is sustainable in the long run, remains to be seen. According to data released in 2018 by the Bundesbank properties in towns and cities could be overpriced by as much as 15-30%. As it was reported by the Bundesbank’s experts, there have been continuing price exaggerations in urban areas: “While price dynamics, from a macroeconomic perspective, were largely consistent with developments in the supply and demand-side variables, housing prices in towns and cities were still well above the level that appears justified by the longer-term economic and demographic determinants.” The economists estimated “upward price deviations for towns and cities at between 15% and 30%.”

However, buying a property in some places in Germany is affordable and should not deter Brits from making their decision to move there. Expatica noted that data from the German consumer organisation Stiftung Warentest in 2017 showed “that buyers in Magdeburg and Cottbus could buy a 130 square meter family home for €200,000, but that for the same money they’d get a small two-room apartment in Cologne or Dusseldorf, and only a dorm in Munich.”

Based on data from the third quarter of 2017, a house in Munich could be as high as €5,839 (apartment), €4,233 (family home), whereas in Cologne and Hanover €2,671-€2,257 (apartment), €2,240-€2,007 (family home), respectively.

Buying a property: costs

After doing your research in various property portals such as immobilienscout24 or immobilo, take your time to decide which property is most suitable for you and your family. When buying a home in Germany, you will be expected to pay 10% of the purchase price to cover the property transfer tax (3.5–6.5%); notary’s fees (1.2–1.5%); registration fees (0.8–1.2%); and estate agent’s fees (1.5–3%, plus 19% VAT).

One of the very important decisions you will also have to make is to choose an expert firm in foreign exchange who will help you with making regular transfers and protecting your funds from currency volatility. Universal Partners FX is a great option for anyone buying property abroad, as they are experts in helping expats like yourself move their hard-earned money abroad. Get in touch with their dedicated currency specialists and find out how much they can save you on your international money transfers.

Getting Married Abroad

Did you now that the average cost of a wedding in the UK is between £25-30,000? It comes to no surprise then, why so many more people are choosing to get married abroad. In comparison to the UK, the average cost of getting married abroad can be up to a whopping £14,000 cheaper. Saving that amount of money, on top of spending a week away with your closest friends and family in the sun, sand and sea is more than enough reason for any couple to consider ditching Britain and taking their big day overseas. So, the questions that come next are usually how much does getting married abroad cost and how do you pay for it? Let’s take a look.

The cost of getting married abroad

We obviously can’t give you a definitive answer to how much your wedding will cost if you choose to wed overseas. This will all come down to the destination you choose, how big and extravagant you’re willing to go and of course, the exchange rate. With foreign exchange rates constantly fluctuating, the costs involved with your wedding are going to change. From venue hire, wedding planner fees and even flights, all of these wedding essentials are likely to be more or less expensive depending on worldwide markets. But there’s no need to worry, this is where we can step in and lend a helping hand with our foreign exchange expertise.

Paying for your wedding abroad

Whether you’re looking to make regular international payments or a one-off money transfer, Universal Partners FX can help you save time and money with our safe and secure online payment platform. Simply sign-up for a personal account today, where you will be assigned an experienced account manager who can guide you through each of useful tools and services that we offer to make paying for your wedding easy and hassle-free. Such as targeting the desired exchange rate to make a payment when it suits you, potentially saving you hundreds of pounds and leaving you with more money to spend on the honeymoon.

Our forward contracts allow you to secure a particular exchange rate for up to two whole years, meaning you will receive the same rate throughout this time, regardless of any fluctuations. Leaving you to spend more time thinking about and planning your wedding, instead of checking the exchange rates every day.

We are here to help you

Whether you’re looking to book a picturesque beach wedding abroad or are planning a more traditional wedding at home, Universal Partners FX is always here to ensure your financial and foreign exchange needs are looked after most professionally and helpfully. An online account with us guarantees 24/7 access no matter where you are in the world, reliable and expert advice from experienced professionals as well as a safe and secure service that you can trust. Do not hesitate to get in touch with a member of the UPFX team today to take the first steps to getting married abroad.

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UK manufacturing PMI beat expectations increasing to 48.3 in September and pushing the pound higher. However, the pound’s lift might be short lived as the data also indicated that signs of a recession are highly likely. Most importantly, UK factories are cutting jobs at the fastest pace in six years, despite companies stockpiling.

Brexit and ongoing economic uncertainty, the weak European economy and the trade war between the US and China are some of the key factors impacting on the UK manufacturing sector.

Manufacturing data in detail

The IHS Markit/CIPS UK Manufacturing and Purchasing Managers’ Index (PMI) showed that the UK manufacturing sector continued its downturn, albeit not as bad as the previous month. Stocks of purchases and input buying volumes rose as companies resumed their preparations for the latest Brexit deadline on 31 October. However, levels of output, new orders, new export business and employment fell further, compared to the previous month.

With companies experiencing a reduction in new orders, output was cut back, while the investment goods sector performed the weakest due to lower output and new business. Brexit affected capital expenditure as clients were reluctant to commit due to political uncertainties.

In September, the consumer goods sector rose, but both consumer goods and production sectors’ outlook was negative, with new work intakes decreasing.

Brexit uncertainty

Brexit uncertainty as well as clients redirecting supply chains away from the UK impacted on new export business. This along with the general decrease in manufacturing affected the labour market as companies reported redundancies and job losses across the consumer, intermediate and investment goods industries and at SMEs and bigger producers.

Brexit was also the motivation behind manufacturers’ increased purchasing and stockpiling. In this sense, optimism remained low as continued Brexit insecurities made any forecasting impossible.

Rob Dobson, Director at IHS Markit, confirmed that the “UK manufacturing downturn continued in September, adding to signs that the sector may be sliding into recession.” He also added that: “Some manufacturers noted increased inventory building activity in preparation for the forthcoming exit date, but the impact of such Brexit-related stock building was dwarfed by weakening demand for other customers, due in part to clients routing supply chains away from the UK.” For Dobson, “The shroud of uncertainty also weighed on manufacturers' confidence, which remained at one of its lowest ebbs in the survey history. These headwinds all ensure that manufacturing will likely remain a drag on UK economic growth during the months ahead.”

Duncan  Brock,  Group  Director  at  the  Chartered  Institute  of  Procurement & Supply, noted that “Businesses were less hopeful about the strength of the marketplace in generating manufacturing growth in the coming months as new orders continued to fall away, and business optimism remained at lower than average levels in all three sub-sectors.”  As a result, “European clients became more resigned and made concrete plans to move away from UK suppliers and business closer to home seemed more reliable. This exhausting set of conditions meant companies shed jobs at a rate not seen since 2013 as redundancy packages were prepared and new staffing plans abandoned.”

What’s to come

On Wednesday, Boris Johnson is expected to submit his proposals to an alternative to the Irish backstop, with political and financial analysts turning their attention back to Brexit. While impossible, any positive response from the EU might lift the pound a little bit higher.

If you are importing from, or exporting to, the European Union, political uncertainty greatly impacts on currency movements and significantly affects your cross-border currency transfers. Get in touch with a currency specialist such as Universal Partners FX and find out how they can help you. UPFX is the best option for foreign exchange services, helping companies make regular payments while hedging their business from the risks of currency volatility. With Brexit looming and the manufacturing sector slowing down, protecting your funds with the help of a currency specialist is the best way to safeguard your business and funds.