An overnight note from MS on the passing of the bill through the Commons that blocks a no-deal Brexit
(for now anyway)
- MS says it lowers the risk of a 'no-deal' exit, but that risk was small anyway
- Also lower the risk for a downside move in GBP
- But the bank still eyes the 1.28 - 1.34 range
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Yep, that news on the passing of the bill in the Commons gave GBP a small boost in early Asia trade yesterday. Ordinarily at that time of the day moves on fresh news can extend due to poor liquidity. Yesterday's did not though.
And then the big drop from the London morning.
