Daily Outlook

Second Brexit referendum idea is backed by opposition leader

British Prime Minister Theresa May said on Monday, that the government is working on proposals to seek further concessions from the European Union. The Irish border issue is tearing the parliament apart and delaying the signing of the current EU withdrawal bill. At the same time, May opposes a second referendum and hopes that Britain could avoid no-deal Brexit, while, opposition leader Jeremy Corbin is backing a second referendum with two main questions on the ballot: asking the people for consent to the current plan and the resolution of the permanent customs union issue.

As it stands the majority of the Parliament is still on the side of the Tories, as the current government has repeatedly won the vote of no-confidence, and the new plan that Mrs. May presented is, at the moment, the most popular one. However the difficulty is that it still doesn’t receive the majority’s approval due to a large number of supporters seeking a softer divorce from EU on the one hand and hard line Brexiteers on the other.

On the Forex market British Pound continue its recovery from mid-December lows. At the same time, GBPUSD could not manage to take above 1.30, that push the pair to its month-old trend.

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