UK: Brexit negotiations still expected to begin early next year - MUFG

Lee Hardman, Currency Analyst at MUFG, suggests that the UK government is likely to be reluctant to give away too many details of their desired exit strategy ahead of negotiations with the rest of the EU.

Key Quotes

“The UK government has stated that it will not invoke Article 50 and begin the formal exit process from the EU until it has a clear view of what it wants to achieve from the negotiations. The consensus view that the UK government will invoke Article 50 during early next year has been reinforced by recent comments from Foreign Secretary Boris Johnson and EU President Donald Tusk. It would be consistent with the potential desire of the UK government to exit the EU before the end of the current parliament. The next general election is expected to be held on the 7th May 2020.”