EU agrees to a 3-month Brexit extension

EU agrees to a 3-month Brexit extension

Boris Johnson’s call for a general election on December 12th is unlikely to receive the two-thirds approval it needs from Parliament, given Labor's opposition. News that the EU agrees to grant the UK a three-month flexible extension to its October 31st Brexit deadline removes the tail risk of a no-deal Brexit, at least in the near term. Parliamentary gridlock and the absence of first-tier macroeconomic data could cause Steering to take a break from the previous weeks’ wild gyrations.

GBP/PLN (21/10/19 - 28/10/19)

Source: Bloomberg Date: 28/10/19

Author: Enrique Diaz-Alvarez, Chief Risk Officer at Ebury