Afternoon Update – Another delay?!

Afternoon all

Well another potential Brexit delay on our hands. I think we are all sick of it and have lost complete faith, hence the market staying relatively static…

GBP

The Europeans want us to extend and Theresa May has stated in the news this afternoon that she “would like” to leave the EU on the 29th March. The immediate focus for 1FX is on Wednesday is when parliament votes on Brexit amendments.

Looking forward to seeing what she has to say tomorrow when the PM is back in town.

One-month GBP ‘implied volatility (a measure of expected price swings in the pound) has risen, which means banks/traders are getting nervous about what is in store with a large swing anticipated either way.

USD

Depending on the terms of the agreement above with China, expect some isolated volatility for the dollar. Good to see progress has been made, albeit it in Trumps head!

Have a good afternoon

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