Christopher Graham, an economist at Standard Chartered Bank explained that with fewer than 200 days until 29 March 2019, when the UK is set to leave the EU (Brexit), a mammoth task faces the UK government.
"Not only must Prime Minister (PM) Theresa May reach an agreement with the European Commission – no simple task given how intractable the Northern Ireland backstop issue is proving – but also, the much harder job of getting the deal through the UK legislative branch will begin."
"Our core view remains that a deal will eventually be brokered between the UK and EU, but this deal will likely depart from the government’s current Chequers plan."
"More likely is that the UK government will make further concessions to the EU, leading ultimately to a softer Brexit, but given the level of uncertainty, and the degree to which political personalities continue to dominate the debate, we cannot rule out a ‘hard Brexit’ (akin to a Canada-style free trade agreement) gaining ground."
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.