Research Team at TDS suggests that the key event today in UK will be the Supreme Court’s ruling on Article 50 at 9:30am GMT.
“After PM May’s Brexit speech last week, which dealt with some of the bigger Brexit issues, how exactly Article 50 gets triggered doesn’t seem all that important anymore. We look for the Court to rule that Parliament must vote to trigger Article 50, but any rally in GBP should be short-lived. It would take a big shock to see a sustainable GBP reaction, like an announcement that 1) Wales, Northern Ireland, and Scotland are all required to approve Article 50, or 2) the Great Repeal Act needs to be approved first.”
“Meanwhile, consensus is looking for PSNB ex-banking to come in at £6.7bn in December, which would be its lowest December borrowing figure since 2007.”
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