BNY Mellon’s Derrick Sees Likelihood of Parliament Voting for Brexit Extension

The video discusses the impact of Brexit on the British pound, focusing on market confidence and the potential extension of Article 50. It explores how the pound might react to various Brexit-related votes and the implications of these outcomes. Additionally, the video examines global trends in currency reserves, highlighting a shift towards non-currency assets like gold, reflecting concerns about the credibility of fiat currencies.

What has been the market's general reaction to the possibility of an extension of Article 50?

• The pound remains stable regardless of extension news.

• The pound drops when an extension is likely.

• The pound reacts negatively to any Brexit news.

• The pound rallies when an extension is likely.

How might the pound respond if Theresa May's Brexit deal is narrowly defeated?

• The pound will likely experience a significant drop.

• The pound might remain stable, indicating potential for future negotiations.

• The pound will rally immediately.

• The pound will become highly volatile.

What is the general belief about the likelihood of a no-deal Brexit passing?

• It is highly likely to pass.

• It is unlikely to pass.

• It will definitely pass.

• It has already passed.

What has been a significant trend in central bank reserves in recent years?

• Increased purchases of gold.

• Increased holdings of the euro.

• Increased holdings of the British pound.

• Increased holdings of the US dollar.

What is a major issue with current reserve currencies according to the discussion?

• They are all highly stable.

• They have fundamental flaws.

• They are backed by gold.

• They are universally trusted.