30 May 2022 - Economy hit by perfect storm

The UK economy is facing severe storm clouds over the next few months as the Government continues to bury its head in the sand over the weakening economy. The package of emergency measures introduced last week are a band over a bullet hole, and pay no heed to the additional increase in the energy cap that is set to be increased again in October. Currently, the fuel cap is set just short of £2,000 but is set to be increased to £2,800 in early Autumn. With a majority of close to 80 seats, Boris Johnson is bulletproof as long as he retains the support of his Parliamentary Party. There have been some rumours of his losing some of that support as two further MPs declined the whip, leaving them to vote as they wish. If 54 MPs out of 360 submit letters expressing that they have no confidence in the Prime Minister, a vote will be held, with a simple majority upholding the decision. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.