By Greg Smith on Monday, October 28th, 2019
in Blog, Market Insights
GBP – Election date before parliament Last week, the House of Commons supported Boris Johnson’s Brexit withdrawal agreement in principle at a second reading. Parliament didn’t, however, agree to his fast-track timetable that could have allowed completion before 31st October. As a result, parliament is expected to vote on Boris’ plan for a general election […]
By Greg Smith on Monday, October 21st, 2019
in Blog, Market Insights
GBP – Sterling higher on new Brexit deal A revised Brexit deal was agreed by the UK and EU after intense negotiations leading up to the EU Summit. The new withdrawal agreement does not, however, have the backing of the DUP. The proposals removed the unpopular Northern Ireland backstop but leave a regulatory and customs […]
By Greg Smith on Monday, October 14th, 2019
in Blog, Market Insights
GBP – Sterling rebounds on hopes for Brexit Boris Johnson’s strong preference appears to be to agree a deal at the key EU Summit that he can take to parliament. The hope for a breakthrough at this EU Summit led sterling sharply higher at the end of last week. The UK government has called for […]
By Greg Smith on Monday, October 7th, 2019
in Blog, Market Insights
GBP – Brexit negotiations continue Last week, Boris Johnson submitted to the EU ‘fair and reasonable’ Brexit proposals aimed at replacing the contentious Irish backstop. Parliament appears to be more positive about the changes, though the EU has said more work is needed. Intensive negotiations are expected over the course of this week, and a […]
By Greg Smith on Monday, September 30th, 2019
in Blog, Market Insights
GBP – Parliament sits following Court Ruling Developments in UK politics continue to dominate market moves. We saw the Supreme Court decision that the prorogation of parliament was illegal on Tuesday. This led to a swift return to Westminster on Wednesday. Prime Minister Johnson has been seeking a general election and there is talk that […]
By Greg Smith on Monday, September 23rd, 2019
in Blog, Market Insights
GBP – Supreme Court to decide on Prorogation Another bout of Brexit optimism boosted the pound last week. Comments from European Commission President Juncker about being open to alternative arrangements suggest that a deal could happen by the end of October. Boris Johnson is expected to meet EU Council President Tusk at the UN this […]
By Greg Smith on Monday, September 16th, 2019
in Blog, Market Insights
GBP – Bank of England to hold The Bank of England is unlikely to cut rates this week. We expect a unanimous vote for no change to policy. There is no Inflation Report or press conference so there will be little new information. Governor Carney recently noted that the downside risks for UK economic growth […]
By Greg Smith on Monday, September 9th, 2019
in Blog, Market Insights
GBP – Election coming up? Parliament returned from recess last week and MPs inflicted defeats on the government Brexit strategy. The Hilary Benn bill received backing from the House of Commons and Lords. Royal assent is expected today. This bill forces the Prime Minister to ask the EU for a delay to the 31 October […]
By Greg Smith on Monday, September 2nd, 2019
in Blog, Market Insights
GBP – Emergency Brexit debate expected The House of Commons returns from the summer recess tomorrow, with markets focusing on Brexit debates and developments. The Government’s announcement that parliament will be prorogued from 10th September until the 14th October means action is expected from those MPs that want to block a ‘no deal’ Brexit. The […]
By Greg Smith on Tuesday, August 27th, 2019
in Blog, Market Insights
GBP – Pound rises with Brexit hopes Over the last week, the pound mostly gained ground on hopes that a no-deal Brexit can be averted. There were positive meetings with Merkel and Macron, though there appeared to be no major shifts in the official positions on the Irish backstop issue. However, both sides are looking […]
