UK: All eyes on Brexit today – Danske Bank

According to analysts at Danske Bank, focus today remains on Brexit, as Theresa May is scheduled to meet with her cabinet at 15:00 CET to discuss the draft Brexit agreement reached with the EU.

Key Quotes

“If the cabinet nods yes, the real test will be whether the deal can survive the House of Commons, as we expect it to be accepted by EU leaders without major problems. Leading hard Brexiteers, the DUP from Northern Ireland and the Labour leadership have already given it a thumbs down, but Theresa May thinks the fear of a no-deal Brexit will make sure moderate Conservatives and Labour MPs will vote in favour of it.”

“A possible EU summit on Brexit on 25 November and the vote in House of Commons may be as early as 10 December. Markets need more certainty before we could see EUR/GBP move even lower.”