UK Cutting It Fine ✂

UK Cutting It Fine

The UK’s most recent vote to prevent a no-deal catastrophe and force Theresa May to ask for yet another extension passed by just one vote yesterday. But with 8 days until the deadline…the clock is ticking.

The latest developments in the saga were welcomed by investors who dived into the currency markets, sending the Pound up 0.2% after the votes were tallied. While some analysts were expecting a stronger rally, it would seem that a large portion of the market had already priced in the outcome, watering down the end result. 

So where to from here? The next step is getting the bill through the House of Lords, which it is widely expected to do. From there it gets posed to the EU who will either approve or deny the plea for more breathing room to hash out the finer details of yet another proposal…when will the cat and mouse end?

At this current juncture it seems like the situation is likely to stay extremely fluid until some more concrete signs of cooperation emerge from within Parliament. Overall, analysts are still mainly bullish on the Pound and further delays to the timeline on the assumption that a no-deal outcome is equally, if not more, damaging for the EU. 

However, if we’ve learned anything from Brexit, it’s to always expect the unexpected when dealing with UK Parliament! The saga continues.

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