Currency Market Analysis

Global Themes

Vote failsThe British pound defied expectations and jumped strongly higher this morning after the UK government suffered a massive defeat over its Brexit deal plan.The GBP gained on hopes that the crushing loss makes a second referendum more likely or, at the very least, means the Brexit end date is likely to be delayed until mid year.Theresa May’s plan lost by 230 votes in largest loss for a sitting UK government in modern history.May faces a “no confidence” motion tomorrow but appears likely to remain in power.Dow moves higherThe USD inched higher in most markets overnight as US equity marke

Read the full report