By Greg Smith on Monday, April 1st, 2019
in Market Insights
GBP – If at first, you don’t succeed We start the week much as we finished last week, with more indicative votes. The House of Commons debated alternative ways forward last week, with no options providing a consensus. The customs union and a second confirmation referendum were the closest options. Following this, Prime Minister May […]
By Greg Smith on Monday, March 25th, 2019
in Market Insights
GBP – Politics remain key The expected third meaningful vote did not take place last week, after being blocked by Speaker Bercow and this week politics remains key. Following the new timetable laid down at the EU summit, the House of Commons has until 12th April to pass the EU withdrawal deal. The eventual […]
By Greg Smith on Monday, March 18th, 2019
in Market Insights
GBP – Third ‘meaningful’ vote Does a vote become less meaningful once it is the third ‘meaningful’ vote? We are primed for this third vote in the House of Commons tomorrow, but only if there appears to be sufficient support from the DUP and Tory backbenchers. Whether the vote is successful will affect how long […]
By Greg Smith on Monday, March 11th, 2019
in Market Insights
GBP – Brexit showdown again The second ‘meaningful’ vote on a Brexit deal is scheduled for tomorrow. There will potentially be further votes, including to extend Article 50, if the deal is rejected. There appears to be no sign of a breakthrough in negotiations to provide reassurances on the Irish backstop. The Brexit showdown vote […]
By Greg Smith on Monday, March 4th, 2019
in Market Insights
GBP – Stock building continues There has been a shift in Prime Minister May’s rhetoric in favour of extending Article 50. The Labour Party’s move to back a second referendum without a ‘no deal’ option also overtook this week’s key events. Mrs May confirmed that the second ‘meaningful’ vote will take place by 12th March […]
By Greg Smith on Monday, February 25th, 2019
in Market Insights
GBP – Delayed meaningful vote Prime Minister May has confirmed that the meaningful vote on her Brexit deal will be held by 12th March. This is just 17 days before the the UK is due to leave the EU. The Commons may still debate and vote on amendments on Wednesday after an update from the […]
By Greg Smith on Monday, February 18th, 2019
in Market Insights
GBP – Commons defeat again Following the House of Commons defeat last week, we have learned very little. The Government’s latest motion was defeated but we know little more regarding the UK’s path to leaving the EU. The focus now shifts to the 26/27th February, when the Prime Minister is scheduled to announce her progress to […]
By Greg Smith on Monday, February 11th, 2019
in Market Insights
GBP – Meaningful vote? After a brief respite, we are back to watching Brexit developments this week. The prime minister met with Tusk and Juncker last week to talk about potential alternatives to the Northern Irish backstop. No immediate progress seems to have been made. Further talks are expected before the end of the month. The […]
By Greg Smith on Monday, February 4th, 2019
in Market Insights
GBP – BoE inflation report The House of Commons voted on amendments to the Government’s motion on Tuesday. This provided an indication of MPs’ thoughts on different solutions. The announcement of a follow-up vote on 14th February gives the Government time to try and renegotiate with Brussels. So far the response from Brussels has been that […]
By Greg Smith on Monday, January 28th, 2019
in Market Insights
GBP – Amendments will be key Sterling strengthened above $1.30 and €1.15 as the markets’ judge that a ‘no deal’ Brexit has fallen. Rising UK wage growth, which has reached a ten year high of 3.4% also added further support. The focus this week is on the House of Commons vote on Theresa May’s ‘plan B’ […]