Political uncertainty outweighs budget focus

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Summary

The Day So Far

GBP has remained under pressure with Cable printing a fresh 7-week low following the second defeat for Theresa May’s Brexit strategy with the Lords backing an amendment to the Article 50 bill with a vote of 366 to 268. Although the amendments are likely to be rejected in the Lower House when discussed next week, the procedure, otherwise known as “ping-pong”, makes little difference to the overall outcome of the Article being triggered by month-end.