Asset Allocation 

How to win at Brexit

How to win at Brexit

On marching past a dead man by the roadside in the middle of the American Civil War, one diarist reflected wistfully that, numbed to slaughter, he no longer experienced the same horror. Similarly, the reaction of sterling to the series of votes around Theresa May’s Brexit deal was mild compared with the drastic falls in its value when the UK first voted to Leave the European Union. The pound was down 100 pips against the US dollar ($1.32 to $1.31) and by 200 pips to the euro (€1.18 to €1.16) on the morning of 13 March, the day after the Prime Minister’s withdrawal agreement was rejected by parliament a second time.

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