UK: Focus on politics - Rabobank

Sandeep Kanihama FXStreet Contributor

Rabobank analysts point out that in the UK, today will see Parliament vote on an opposition motion to block the possibility of a No-Deal Brexit on 31 October and will be a key event for markets.

Key Quotes

“It appears to be a close call whether enough Tory rebels will side with Labour and the Lib-Dems to pass the motion. If the government wins then there is a very real risk that Hard Brexit is less than six months away under a future PM Boris Johnson (who a recent opinion poll shows would see the Tories on 37%, Labour on 22%, the Lib-Dems on 20%, and the Brexit Party on 14%).”

“Yet even if the motion passes the UK alone cannot guarantee no Hard Brexit if it keeps wasting time, as it is now: the decision to extend (and pretend) is then passed back to the EU once again.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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