MUFG: Brexit to remain in focus this week
|MUFG analysts are expecting that the main focal point for markets this week will be on Wednesday’s votes in UK parliament on fresh Brexit amendments.
Key Quotes
“Most notably, the updated Cooper-Letwin amendment which seeks to force the government to extend Article 50 if they can’t pass a Brexit deal by the 13th of March.”
“Reports indicate more optimism that Cooper-Letwin amendment may pass this time, after having been rejected at the end of Jan in its first iteration.”
“It could help lift cable towards 1.3300 level if passed. But, if MPs pass up opportunity to “take No Deal off the table” for the second time by voting down the amendment, market participants may not as forgiving with time quickly running out. It could see cable quickly falling back towards support from its 55-day moving average at 1.2850.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.