The month of May marked the end of British Prime Minister ‘May’, and was ultimately about continuations of previous stories and themes, the outcome of the European Elections and the start of the Conservative leadership race.
Uncertainty surrounding the Brexit process has continued to dominate the headlines and drive much of the volatility in the foreign exchange market in the past few weeks.
Although the clocks went forward, they did not shed any fresh light on Brexit. The stalemate continued and the EU granted an extension to Article 50 until Halloween, by which time the clocks will have changed again and we’ll probably still be in the dark.
The UK and the EU have agreed to extend the Brexit deadline until October 31, 2019, from April 12, 2018. Initially, it was thought that the EU was thinking of extending the deadline until June 30.
Optimism that the US and China could be edging towards an agreement over trade has grown in recent weeks.
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