EU Summit kicks off today – RBC CM

Elsa Lignos, Senior Currency Strategist at RBC Capital Markets, suggests that the EU Summit kicks off today in Brussels with current PM David Cameron to brief other EU leaders over dinner (from 18.45BST/13.45ET).

Key Quotes

“The European Parliament is also due to hold an extraordinary session to discuss the vote (9-11am BST) though nothing market-moving is likely to result.

EU Summit press conferences are expected tomorrow afternoon but leaders appear to have toned down earlier insistences that the UK must trigger Article 50 right away. For one thing there is no legal mechanism to force the UK govt to do that and Cameron has indicated a new PM will be in place by September 2.”