Another crushing defeat for May yesterday, so much so that she didn’t even bother turning up!
GBP & EUR
GBP hovering around 1 month lows at present after Theresa May lost a symbolic Brexit vote in parliament, no surprises really as the Eurosceptics in Parliament are really gaining traction and popularity within the media (Jacob Rees Mogg etc). So as it stands we are still set to leave the EU on March 29th.
Yesterday’s defeat whilst humiliating, will also further worry international investors that she has no persuasive skills to convince her cabinet to back any forthcoming amendments that she agrees with the EU.
Lots of media attention is focused on this at present:
I want to thank all Republicans for the work you have done in dealing with the Radical Left on Border Security. Not an easy task, but the Wall is being built and will be a great achievement and contributor toward life and safety within our Country!— Donald J. Trump (@realDonaldTrump) February 13, 2019
Shame really as trade talks with China are still rumbling on and US retail sales were appalling yesterday.
USD weakens but GBP is still leading the way as the worst performer masking any USD frailties.
Have a great weekend all