The General Advocate for the European Court of Justice published an opinion in which he said that the UK could unilaterally revoke Article 50. While this is not a binding ruling, these opinions turn into decisions more often than not.
The ruling provides hope for British supporters of remaining in the European Union. Some aspire to reverse Brexit if the withdrawal agreement that UK PM Theresa May reached is rejected by Parliament. The vote is due on December 11th.
The PM said she is focused on passing the Brexit deal and that a rejection by Parliament will cause uncertainty, without specifying which path the government will take in case of the House of Commons voting it down. Fears of a no-deal Brexit weighed on the Pound. The opinion opens the door to undoing Brexit, albeit this decision will reverse the results of the EU Referendum from June 2016.
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.