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Most British companies are optimistic about the future post-Brexit

Monday, Dec 26 2016
Most British companies are optimistic about the future post-Brexit

Nearly two-thirds of British businesses are "optimistic" about their future in the wake of the Brexit vote, a major survey has disclosed. A poll of 34,000 companies by the Institute of Directors found that 60 per cent of businesses are "optimistic" or "very optimistic" about the year ahead. The businesses, predominantly small or medium-sized, conceded there is "uncertainty" of the vote to leave the European Union. However, their positivity is in marked contrast to comments by the bosses of Britain's biggest companies, some of whom have criticised Brexit and even threatened to relocate out of the U.K.

It came as the latest edition of the World Economic League Table said that Britain will overtake France’s economy in the years just after Brexit despite the recent fall in the value of the pound. The latest table puts Britain in sixth position, after being narrowly overtaken by France in the wake of the Brexit vote because of currency fluctuations. Britain is forecast to catch up with France in 2021, just two years after Brexit is expected to take place. According to the forecast, conducted by the Centre for Economics and Business, the UK will have overtaken France by 2026.

 

Sterling is currently being traded around 1.23 area. Pair is likely to be find support around 1.2250 handle and resistance above 1.2320 level.

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