- Brexit headlines have been seeping their way through.
- GBP can continue to attract a bid and remains better bid into the elections.
- UK House of Lords has approved 1st hurdle for PM Johnson’s early election bill.
- Brexit party is considering pulling out of hundreds of seats.
A number of Brexit headlines have been seeping their way through the major distraction which has been the Federal Reserve interest rate decision, statement and now governor Powell about to take the stand.
Meanwhile, as a further boost for GBP, which had otherwise been on the backfoot following a surge in the Greenback as markets cheer an easier monetary policy form the Fed in a boost for risk appetite and US assets, it has been reported in the Finacial Times that Brexit party is considering pulling out of hundreds of seats in what would be a game-changer for Boris Johnson’s hopes of winning a general election.
At the same time, we are hearing that the UK House of Lords has approved 1st hurdle for PM Johnson’s early election bill for the 12th December, as widely expected.
FX implications:
The Pound has rallied this month, over 6% and from the base of the 1.22 to a high of 1.3011 – This reflects the perception that the risk of a no-deal Brexit is off the table for now. On headlines such as this, the GBP can continue to attract a bid and remains better bid into the elections.
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