How is the lingering Brexit uncertainty affecting financial institutions?
According to George Karoullas, EverFX’s CEO: “The whole Brexit debacle has spread a feeling of uncertainty across all industries and economies in Europe, and the trading vertical is not an exception. We consider the U.K. one of the most lucrative, interesting, and challenging markets in the world, and were thrilled at exploring what it has to offer.”
Tsaryk also observed that the U.K.’s 10-year government bonds have been steadily declining over the week before last, down from 1.19% to 0.96% week-over-week. According to him “this indicates that investors are closing their long position in Pounds Sterling and U.K. equities, and fleeing into-risk free assets due to high market uncertainty.”
For financial firms that need to plan months, and even years in advance, 30 days is simply unacceptable to many market participants and the industry at large.
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