Citibank: Fluid environment in UK regarding Brexit - Citibank

Citibank analysts suggest that there has been a lack of meaningful headline risk over the past week, even though we remain in a fluid environment regarding Brexit.

Key Quotes

“For the moment, PM May is negotiating with the aim of putting a second Meaningful Vote to the House between 26-28th February (TBC).”

“We are only 30 business days away from the current end of Article 50 & subsequent leaving of Britain from the EU. This figure hasn’t been expressed in much urgency by media outlets recently, & outlines a potential danger of UK sleep walking into a ‘no deal’ scenario.”

“Well either we could be seeing a delayed response & could see GBP materially weaken this week. Or we are seeing more fundamental support for GBP by investors believing that Brexit will be successful and that in the mid to longer term, it is undervalued. On an impartial viewpoint, it looks for the moment to be more of the latter.”