Brexit Bill Increases but the Pound Rebounds

December 1, 2017 by Adrian Thorpe

Whilst many people have made up their mind that Theresa May is weak, and is probably not the best person to haggle out a good deal for the UK in regards to the final Brexit divorce bill they going to have to pay to leave the EU, and the possible trade deal Great Britain will get, it does look likely that it is going to cost the British tax payer a small fortune to do so.

Whilst initially May did proclaim she was prepared to pay around £20 billion for the Brexit divorce bill but that was quickly rejected by Brussels and she hastily announced that she was prepared to now pay double that amount.

With screams of disgust playing out over Social Media, that announcement did have another effect, this time on the money markets, with GBP rebounding very quickly in regards to its value against many other currencies, namely US Dollars and the Euro itself.

Having been a net contributor to the EU budget since they joined, the UK does have plenty of assets held in it, and that is what has been upsetting many Brexiteers, for they have made it known that the UK does not in fact owe the EU anything, once those assets are taken into account.

However, the powers that be in the EU are not going to even contemplate discussing a trade deal with the UK until those money matters have been resolved and a promise or agreement to pay what they feel is a fair amount has been finalised.

With the wild fluctuations in regards to the value of many different fiat currencies at the minute that has of course had a knock on effect in regards to the value of most crypto-currencies, with some of the leading and most commonly used ones reaching very high values!

In fact, you could not have missed out noticing the fact that Bitcoin has currently been trading at an all time high, as more and more people are looking for something of a safe haven to store their nest eggs whilst Brexit is being played out.

Whether you should increase your holding of Bitcoin or any other digital currency, is of course a choice that you are going to have to make, however with the current trading figures and the value of them increasing almost daily, if you leave it any longer you are going to have to pay a small fortune to get a holding purchased!

Nothing however is set in stone in regards to Brexit, and there is still a very good chance that the UK could walk away without making a deal, and if that does turn out to be the case then the fiat currency markets and the digital currency markets are once again going to be set alight.

It may however be worth you taking a step back and adopting a wait and see approach in regards to which, if any fiat or digital currency you do invest in!