Queen Elizabeth will conduct later today the State Opening of Parliament, and it will comprise the government plans for the next two years instead of the usual plans for the year ahead. The speech is due at 1030GMT.
According to prior surveys, the speech should be mainly focused on the Brexit negotiations – which have started on Monday - while domestic politics are likely not to be taken into account this time. It is worth noting that UK’s PM Theresa May has yet to clinch a deal with the Democratic Unionist Party (DUP).
UK: Queen’s Speech to mark the start of the new parliament – Lloyds Bank
The Queen’s Speech will mark the formal start of the new parliament and is set to go ahead even though the government has not yet completed the negotiation of its alliance with Northern Ireland’s Democratic Unionist Party, explains the research team at Lloyds Bank.
The GBP/USD pair finally broke down of the Asian session consolidation phase and slipped below the 1.2600 handle to fresh two-month lows.
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