One of the effects of a hard Brexit that is causing many Forex traders loss of sleep at night is that the value of Sterling could crash after Brexit next march, much more so if no deal can be negotiated between the UK and the EU, and that is something they will be hoping can be avoided.
However, having said that, many speculators were making it know that if the population did vote to leave the EU, which they did of course eventually do, the value of GBP would immediately crash, which as time has proven was something that did not happen.
It is however expected that the UK and the EU will be able to get a deal in place, probably not very long before the deadline to do so expires, and if one is put in place then I doubt that there are going to be any major fluctuations in the value of GBP and for example the Euro.
There is of course some talk of the UK locking in an exchange rate mechanism with some other countries or even just the Euro, however anybody of a certain age will remember that was something the UK did try before which did eventually cost them dearly.
Forex Trading Will Continue After Brexit
If you are someone who does trade currencies in any environment, then you have nothing to fear about Brexit, for I am more than confident all each individual Forex Broker will continue to operate in much the same way they are now doing.
However, there could be the requirement, immediately after Brexit or after the transition period, if a deal is forthcoming, for any site or company offering Forex brokering services will have to apply for and be granted a trading license from the UK.
Likelihood of Major Turbulence in the Money Markets
Much like at any other time of the year, there is going to be money to be made on the currency markets irrespective of whether the UK does get a deal regarding Brexit or not, but one thing you should be prepared for is lots of volatility on the trading markets.
Those traders with vast experience of trading currencies will of course be preparing for any eventuality and will already by placing some long term trades on the value of GBP when coupled us with a range of different countries, which may be something that you are thinking of doing too of course.