Brexit News Archive: 26 May 2016

At UN climate talks some worry about Brexit, Trump impacts

Climate negotiators ended their first talks after last year's landmark Paris Agreement with some delegates expressing concern about the potential impacts of upcoming votes in the U.S. and Britain
U.S. News   |   Thu, 26 May 2016 20:22:20

Real Estate Shares Shrug Off Brexit

British commercial real estate is among the asset classes most vulnerable to a shock if the U.K. votes to leave the European Union. But judging from the recent share performance of the country's publicly listed property companies, investors don't seem to care.
Jon Sindreu and Art Patnaude / MoneyBeat   |   Thu, 26 May 2016 16:59:39

Goldman: Markets Biggest Fear Is Neither Trump, Nor Sanders, Nor The Fed ... It's Brexit

As the market prices in Brexit volatility, where are the opportunities for traders? Shortly after an Investec research report noted that the perception regarding a Brexit volatility and a mean reversion trade might drive reality, and recommended buying a U.K. [...] The post Goldman: Markets Biggest Fear Is Neither Trump, ...
Value Walk   |   Thu, 26 May 2016 16:47:02

A Post-Referendum Agenda for Britain

Even if voters in the UK choose to remain in the EU, Prime Minister David Cameron will have an unpleasant mess to clean up. Rather than focus on the home front, Cameron should take the lead in putting in place a credible European policy for dealing with mass migration.
Chris Patten / Project Syndicate   |   Thu, 26 May 2016 15:33:30

Shoppers brush off Brexit fears with record credit card splurge

Tim Wallace / Telegraph   |   Thu, 26 May 2016 14:20:23

Labour's moribund referendum

What on earth has happened to the left in the Brexit debate? Chapter nine of Blimey, it could be Brexit! At the start of the final month of the referendum campaign, the London newspapers are complaining about how negative, personalised and miserable the arguments have become. You would never have ...
Open Democracy   |   Thu, 26 May 2016 12:54:38

Brexiteers' shallow love of democracy and sovereignty

Brexiteers' shallow love of a national self-determination they don't understand
FT   |   Thu, 26 May 2016 11:40:19

Soubry's Big Nissan-derstanding

Nissan are on the record saying they won't leave Britain post-Brexit and have been at pains not to scaremonger about the referendum. So they were a bit put out by Anna Soubry using their reception in parliament last night to [...]
Guy Fawkes' blog   |   Thu, 26 May 2016 10:46:08

IMF Not Funding July Greece Deal, Still Wants Serious Debt Relief Before Committing New Dough

The IMF has not given up on debt relief for Greece, but due to the upcoming Brexit vote, is holding off on the fight until fall.
Yves Smith / Naked Capitalism   |   Thu, 26 May 2016 09:55:05

UK economy grew at 0.4%, ONS confirms

Increases in business services and government spending propped up growth with worrying fall in business investment blamed on Brexit fears Britain's economy grew at 0.4% in the first three months of the year, despite a slump in manufacturing and construction output that has dragged down GDP growth over the last ...
Phillip Inman Economics correspondent / Guardian   |   Thu, 26 May 2016 09:41:22

Boris Johnson part of 'horror scenario'

European Commission president suggests leading Brexit backer return to Brussels to reassess stance
FT   |   Thu, 26 May 2016 09:09:29

David Cameron's former strategy guru claims he would back Brexit if he wasn't Prime Minister

Laura Hughes / Telegraph   |   Thu, 26 May 2016 07:07:51

Is David Cameron's Austerity Three Times as Bad as Brexit?

That's the question millions are asking, or at least the one they should be asking. The OECD recently did an analysis of the economic consequences for the UK if it decides to leave the European Union. It concluded that it would cost the country 5.1 percent of GDP in its ...
Dean Baker / CEPR   |   Thu, 26 May 2016 06:45:39

GBP/USD hovers near 3-week tops above 1.47, UK GDP eyed

The GBP/USD pair is seen consolidating the upside above 1.47 handle, as the bulls appear to face exhaustion after a two-day massive rally backed by upbeat news surrounding the Brexit issue. GBP/USD lifted by higher oil, anti-Brexit newsCurrently, GBP/USD trades +0.13% higher at 1.4715, moving off fresh session highs reached ...
FXStreet / FX Street   |   Thu, 26 May 2016 05:36:28

GBP/CAD eases from fresh 3-month highs

The GBP/CAD cross climbed to 1.9300 before pulling back to end the day pretty much flat at 1.9176, as both, the Canadian dollar and the pound outperformed its major rivals, due to different reasons. The GBP rallied on the back of further relief in regards of avoiding a Brexit, while ...
FXStreet / FX Street   |   Wed, 25 May 2016 19:56:09

GBP remains perky on Bremain strengthening - Scotiabank

The GBP remains relatively perky against the broadly stronger USD and continues to advance against the weak EUR. Key continued focus from policy makers on the downside risks for the economy in the event of a Brexit, investors appear to be going with the UK bookmakers' view that the probability ...
FXStreet / FX Street   |   Wed, 25 May 2016 19:04:39

Brexit will make us richer. That's why Leave could still win

Allister Heath / Telegraph   |   Wed, 25 May 2016 18:04:26

EUR/GBP sinks further below 0.7600 handle

The EUR/GBP bears seem unstoppable as the pair now extends its slide further towards the mid-point of 0.7600-0.7500 handle. GBP bulls got a boost after the latest IG/Survation EU Referendum Poll showed 44% votes for 'Remain' camp and 38% favoring to 'Leave' the EU. Receding fears of a 'Brexit' has ...
FXStreet / FX Street   |   Wed, 25 May 2016 14:33:46

FairFX chief says new app is "a major step forward" for customers

FairFX Group Plc (LON:FFX) released a wide-ranging update on Wednesday, which confronted issues such as BREXIT, as well as news that the commercial momentum reported at the last update has continued, and chief executive Ian Stafford-Taylor speaks to Proactive on a number of the key points. FairFX has developed a ...
Proactive Investors   |   Wed, 25 May 2016 14:13:00

Which Brexit forecast should you trust the most? An economist explains

It seems that not a day goes by without another Brexit economic forecast - whether it is one from the Treasury, the OECD or Economists for Brexit. Some say it will cost Britain to leave; others say it will be beneficial to the UK economy. If a report favours remain, ...
Nauro Campos, Professor of Economics and Finance, Brunel University London / The Conversation   |   Wed, 25 May 2016 13:59:37

A simple solution for #Brexit-related uncertainty

Prominent Brexiter Andrew Lilico, I see, argues that we could avoid the uncertainty created by triggering the Article 50 process by not doing so: The Treasury says an instant triggering of Article 50 post-referendum would be a driver of uncertainty. ... Continue reading →
Alex Harrowell / Fistful of Euros   |   Wed, 25 May 2016 13:46:28

#Brexit, trade, and the J-curve

A couple of thoughts on the economic consequences of #Brexit. HM Treasury, the Institute for Fiscal Studies, and others have published their efforts to forecast the short- to medium-term impacts of leaving the EU, and it's fair to say none ... Continue reading →
Alex Harrowell / Fistful of Euros   |   Wed, 25 May 2016 13:45:25

S&P: The pound could lose its spot as one of the world's top currencies in a Brexit

Credit ratings agency Standard & Poor's has warned that the pound could lose its place as one of the world's most important reserve currencies if Britain votes to leave the European Union in June. In a new report, titled "Brexit Is A Risk To The Reserve Status Of Sterling" S&P ...
Will Martin / Business Insider   |   Wed, 25 May 2016 13:31:01

Jan-Werner Müller: Breurope

Far from concentrating minds, Brexit has been treated as yet another distraction in an EU facing multiple threats of disintegration. At last autumn's summit meetings, convened to address the refugee crisis, other member states made clear their view that dealing with the UK was like trying to manage a narcissistic ...
London Review of Books   |   Wed, 25 May 2016 12:43:31

GBP/JPY clears 100-DMA with ease, just shy of 162.00 level

As the British Pound's bullish momentum gained traction, the GBP/JPY pair surged past 3-week high and 100-day SMA resistance with ease to currently trade within striking distance of tapping 162.00 handle. The pair extended yesterday's sharp rebound from 50-day SMA support near 158.00 on receding fears of 'Brexit' after the ...
FXStreet / FX Street   |   Wed, 25 May 2016 12:01:02

Brexit could extend austerity, IFS says

The Institute for Fiscal Studies says leaving the EU could lead to more austerity - but Vote Leave calls the think tank "a propaganda arm" of Brussels.
BBC   |   Wed, 25 May 2016 11:02:02

IFS warns Brexit would extend austerity for two more years

Thinktank says lower growth and extra borrowing would offset any benefits from halting what it claims is the £150m a week UK contribution to Brussels Britain's leading tax and spending thinktank, the Institute for Fiscal Studies, has warned that leaving the European Union would force ministers to extend austerity measures ...
Phillip Inman Economics correspondent / Guardian   |   Tue, 24 May 2016 23:01:23