UK: The great Brexit gamble paid off – Rabobank
In view of analysts at Rabobank, the great Brexit gamble has paid off with the UK Prime Minister Johnson getting his majority in the House of Commons.
Key Quotes
“It is certain that his majority is comfortable enough to get his Brexit-deal through the Commons. The UK will leave the EU by January 31.”
“Get Brexit done” resonated very well with voters and has redrawn the political map of the UK. But Brexit is not done: it will move to the tricky negotiations regarding the future relationship. The clock on the end-2020 deadline of a hard Brexit has therefore started ticking, but the resounding victory does provide Boris Johnson with some room for manoeuvre.”
“The failure of Labour to come up with a clear strategy on Brexit has a big cost: the party has lost seats they have held for decades. There will be a fight for command of the Labour Party, as Jeremy Corbyn will stand down as leader.”
“Meanwhile, the main opposition for Johnson could come from SNP leader Sturgeon, whose party has gained more than a dozen seats and may press the case for a second independence referendum in Scotland. It’s a clash waiting to happen.”
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.
