Brexit: Brexit Deal and Tory Leader

brexit: After six months of attempting to bulldoze her doomed Brexit deal through parliament May finally ran out of road last week, the pound recorded some of the steepest losses among major currencies for the month of May with the mounting threat of a new Tory leader pushing an overt no-deal Brexit agenda, according to The Guardian. Sterling has hit its lowest level in four months against the US dollar, at less than 1.27. In a reflection of Britain's rudderless political situation, the prime minister hands over an economy that has benefited from a boost in stockpiling activity and is at record levels of employment, but has been starved of longer-term investment with companies holding back from spending on capital projects and refraining from making stronger pay settlements for British workers. Writing in the Guardian, Andrew Sentance, a former member of the interest rate-setting monetary policy committee MPC at the Bank of England, said We seem to be wandering deeper into the economic jungle and whoever takes over from Theresa May will face a major challenge of putting the economy back on an even keel. To gauge the impact of Brexit on a monthly basis, the Guardian monitors eight economic indicators, along with the value of the pound and the performance of the FTSE 100. If a no-deal Brexit does materialise, that will also be a negative influence on the prospects for the UK economy. (news.financializer.com). As reported in the news.