This morning’s news headlines revealed Theresa May has finally struck a last-minute Brexit deal with the European Union to move talks onto the next phase. Theresa May arrived in Brussels earlier today to begin stage two of the negotiations.

With the deal signalling a heightened confidence in the British economy, the announcement is undoubtedly a positive step towards progress.

The key takeaways entailed promise of a financial settlement which, in Mrs May's own words is, “fair to the British taxpayer."

We also learnt there will be no hard border between Northern Ireland and the Republic of Ireland, maintaining constitutional and economic integrity of the United Kingdom by upholding the Belfast agreement.

And for ex-domicile individuals residing in the UK or the European Union, it was announced that they will maintain their rights to stay in their country of abode.

With the news so far signalling nothing short of positivity, the reaction within the foreign exchange market was equally felt with the GBP:AUD and GBP:NZD both hitting their highest points in 2017. The graph below illustrates the development.

"While we may not be able to predict where the foreign exchange rate will be in one month let alone on Monday, current rates present an opportune time to discuss currency transfers of some (or more) of your portfolio into your local currency with your Montfort advisor, whether you are one of our domicile or overseas clients", comments Montfort advisor Alex Norwood.

If this news concerns you, please contact your advisor direct on +44 (0)1483 202072 or via the email addresses below. 

Alex Norwood -
Chris Slater-Jones -
Eugen Neagu -
Geraint Davies -

#BrexitDeal #Brexit

Photography Toby Melville / Reuters

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