Hints and tips:
...According to the bank’s European economist, Adrian Paul, the most likely outcome remains that “a close variant” of former prime minister Theresa May’s Brexit deal will pass in parliament by the end of October...
...Now, currency analysts see him as the candidate most likely to replace Theresa May as prime minister, in turn raising the chance that the UK will crash out of the bloc without a deal....
...Allies of Theresa May, who steps down as prime minister, also expect her to join the fight to stop a no-deal exit....
...We can even see scenarios in which the politics of an extension would be even worse,” Mr Gallo said....
...Britain’s currency dropped and then rebounded sharply in volatile trade following Theresa May’s heavy defeat in a House of Commons vote on her Brexit deal....
...Prime minister Theresa May “placed an Article 50 extension ‘put’ beneath the pound,” said Athanasios Vamvakidis, a currencies strategist at Bank of America Merrill Lynch in London....
...News of the leaked paper came just as UK prime minister Theresa May sent a note to the EU asking for an extension until June 30....
...“It’s just noise at this stage because having an extension to Article 50 doesn’t mean that there is a new solution to Brexit,” Mr Gallo said....
...Anyone hoping that financial markets will ride to the rescue of Theresa May’s Brexit deal is likely to be disappointed, warn investors....
...After Wednesday’s publication of the legal advice, the next expected milestone is next week’s vote on Theresa May’s Brexit deal....
...The rise in the UK currency came after prime minister Theresa May opened the way for a delay in Britain’s planned departure from the EU if MPs continued to block the exit deal she was negotiating with Brussels...
...Theresa May, prime minister, now faces the daunting task of getting her plans through UK parliament....
...is trading less than 1 per cent away from levels it hit against the euro and the dollar two months ago, despite the tumultuous political background that has involved three rejections of prime minister Theresa...
...The pound abruptly dropped in early afternoon trading on reports that Theresa May could lose an important parliamentary vote on Brexit later on Tuesday....
...“FX markets are grossly underestimating the chances of the UK exiting the EU on March 29th without a deal,” said Stephen Gallo, head of European FX strategy at BMO Capital Markets....
...The pound and equities tumbled on Monday after Theresa May delayed the parliamentary vote on her Brexit deal, deepening the uncertainty over Britain’s future relationship with the EU that has dominated UK...
...The activity indicates markets expect MPs to vote down Prime Minister Theresa May’s Brexit agreement on December 11 but are less sure what will happen next....
...Sterling climbed on Monday after the resignation of David Davis, Brexit secretary, heightened analyst expectations for a ‘soft Brexit’ even as it boosted uncertainty over the future of Theresa May’s government...
...The pound has long been the barometer of Brexit and the currency’s tumble on Monday tells us how glum things are looking after Theresa May delayed a parliamentary vote on her deal....
...“There is more uncertainty over the future shape and leadership of the Conservative party but, I think, less uncertainty over the type of Brexit we’re headed for: cotton soft,” said Stephen Gallo, head of...
...The pound suffered a fresh fall on Wednesday, knocking it to the lowest level in almost a year against the dollar amid persistent worries about UK prime minister Theresa May’s ability to cut a deal with...
...Theresa May’s chequers deal, marginally amended, is highly unlikely to win a Commons majority....
...Leading quote “There is more uncertainty over the future shape and leadership of the Conservative Party but, I think, less uncertainty over the type of Brexit we’re headed for: cotton soft” — Stephen Gallo...
...Alberto Gallo is partner at Algebris Investments and portfolio manager for the Algebris Macro Credit Fund...
...“It looks like pure politics for now: expectations that UK prime minister Theresa May could be ousted seem to be keeping the pound quite heavy,” she says....
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