08-15-2016, 02:58 AM
The pound trading at $1.50 may seem like a distant memory, yet a few voices see it fully recovering from the Brexit sell-off. A weaker pound will support growth and restore balance in the U.K. economy, while the country will be able to strike a deal in exit talks with the European Union that maintains its competitiveness, said Stephen Jen, chief executive of investment company Eurizon SLJ Capital Ltd. The pound may take a couple of years to return to a pre-Brexit level, he said.
Rare Brexit Optimist Calls for Pound to Climb Back Toward $1.50 - Bloomberg
A lawsuit brought by a hairdresser, an investment-firm manager, and a handful of other plaintiffs that demands Parliament hold a vote on whether to trigger Article 50 will be heard by the UK Supreme Court, according to Bloomberg. The case is crucial because it sets out a legal path that could allow the House of Commons to ignore the result of the EU referendum. The plaintiffs argue that an Article 50 request to leave the EU can only be triggered by a vote in Parliament, not the mere request of the prime minister. If the Supreme Court agrees, then the Article 50 request would be put to the House of Commons. It is not certain that Article 50 would get enough votes.
UK Supreme Court case on Article 50 could stop Brexit - Business Insider