It seems to me that the little move up in GBP and some "local" plays (banks, home builders) reflects higher chances of the UK remaining in the EU custom union.
The Telegraph is reporting Philip Hammond told business leaders Article 50, which is the bill to remove the UK from the EU, will be extended and even be shelved in coming days. Meanwhile, close colleagues of the Prime Minister are floating the idea of a Norwegian solution which is effectively EU membership in all but name.
The Labour Party are still hoping for an election, (of course they are), but are calling for a potential hard exit to be taken off the table and Jeremy Corbyn said today he could be willing to consider another referendum. The Cabinet office estimates a fresh referendum could take 14 months to organise. That’s seems rather long but, in any case, this saga is not going to end soon.Click HERE to subscribe to Fuller Treacy Money Back to top