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Hammond Brings Positive Message to Business Leaders as Brexit Talks Begin

Theresa May’s government has changed its tune on Brexit, striking a more sober and realistic tone weeks after her disastrous election. Gone is the bluster that had prompted European Union allies to chide the U.K. for wanting to have its cake and eat it, too.

On Monday, Chancellor of the Exchequer Philip Hammond will use a speech organized by the Confederation of British Industry to tell business leaders their concerns over the split will not be dismissed. It’s a conciliatory gesture to an audience that’s been overlooked, and at times, even dismissed.

The change in tone has become apparent since May lost her majority and had to cobble together a working arrangement with a Northern Irish party. Unable to impose her vision of Brexit and under mounting pressure to drop austerity, the prime minister has been forced into making political concessions at home and increasingly likely with her EU divorce partners as well.

Bloomberg [1]

Central Bank Hangover [2]

Week Ahead Dollar Weaker After Hawkish Comments From Central Banks [3]


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Craig Erlam

Craig Erlam [8]

Senior Market Analyst, UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

Latest posts by Craig Erlam (see all [8])