Analysts at Danske Bank point out that in the UK, Prime Minister Theresa May lost another parliamentary vote yesterday, ahead of the important vote on her Brexit deal on Tuesday next week.
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“The amendment in question was with regards to a possible limitation on the British tax code in the case of a no-deal Brexit not being specifically approved by the House of Commons – a scenario May has repeatedly said to be preferable to a ‘bad deal’. While the amendment in itself has limited impact in practice, it signals that there is currently no majority for a no-deal Brexit among British politicians. However, markets did not seem to put too much emphasis on this vote and the pound weakened only modestly during the day.”
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