Sterling remains the weakest one for today as markets await Brexit meaningful vote in the UK. Brexit minister is expected to make the closing speech in the Commons, setting up the vote at 7pm London time, or 1900GMT. Ahead of that May warned in the parliament that “if this vote is not passed tonight, if this deal is not passed, then Brexit could be lost.”
May secured some changes to the deal, with an instrument and a new statement that provide the UK a way to suspend the Irish backstop. But Attorney General Geoffrey Cox has made sure in his new legal advice that UK could still be trapped inside the backstop forever. And, Cox said that the “legal risks remains unchanged.”.
Head of Brexiteer group ERG Bill Cash said “in the light of our own legal analysis and others we do not recommend accepting the government’s motion today”. Northern Ireland’s DUP leader also said the won’t back the deal as “sufficient progress has not be achieved”. May’s Brexit deal lost the meaningful vote by 230 votes back in January. There might be some improvement this time but chance remains slim for the deal to be passed.
Elsewhere in the currency markets, Yen is currently the second weakest, followed by Dollar. New Zealand Dollar is the strongest, followed by Euro. There is no clear theme, except Brexit.
In other markets:
- DOW is down -0.40%.
- S&P 500 is up 0.38%.
- NASDAQ is up 0.61%.
- 10-year yield is down -0.0207 at 2.621.
In Europe:
- FTSE closed up 0.29%.
- DAX closed down -0.17%.
- CAC closed up 0.08%.
- German 10-year yield is down -0.0143 at 0.057.
