UK Parliament is set to vote on no-deal Brexit today at 1900GMT, which will likely be rejected. Then there will be another vote tomorrow for seeking Article 50 extensions. Responses from the EU so far are not very positive regarding an extension.
The European Parliament’s lead Brexit spokesman Guy Verhofstadt warned that he would oppose to even 24-hour extension. He said ” I am against every extension, whether an extension of one day, one week, even 24 hours, if it is not based on a clear opinion of the House of Commons for something, that we know what they want.” Verhofstadt also warned that “An extension, where we go beyond the European elections, and the European elections will be hijacked by the Brexiters, and by the whole Brexit issues. We will talk only about that, and not about the real problems, and the real reforms we need in the European Union.”
EU chief Brexit negotiator repeated his question that “extend this negotiation — what for?” And he reiterated that “if the UK still wants to leave the EU in an orderly manner, this treaty is — and will remain — the only treaty possible”. Barnier also told the European parliament that “We are at a critical point. The risk of no-deal has never been higher. That is the risk of an exit – even by accident – by the UK from the EU in a disorderly fashion. I urge you please not to under-estimate the risk or its consequences.”
Into US session: Sterling lacks direction as no-deal vote awaited
Entering into US session, Sterling is the strongest one for today so far. But it should be noted that the pound is just gyrating in range, as markets await no-deal Brexit vote in the parliament at 1900GMT. There will likely be no clearly direction until the UK Commons made up its mind on what it wants collectively. EU is also clearly that if they were to agree to an extension, they needed to know what for first. There was a rumor saying Attorney General Geoffrey Cox might modify his legal advice that could offer some help to PM May. But such rumor is quickly denied.
Staying in the currency markets, Swiss is currency the second strongest, followed by Euro. New Zealand Dollar is the weakest one, followed by Aussie and then Yen. Such combination shows that there is no clear direction in the market for today.
In Europe, currently:
Earlier in Asia: