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UK Times report May’s government faces ‘total collapse’ over Brexit

Sunday Times newspaper points out opposing factions within the Conservatives:

  • newspaper said at least six pro-European Union senior ministers will resign if UK PM May opts for a no-deal departure from the EU
  • But at the same time, rival ministers who support Brexit were threatening to quit if May decides to stay close to the EU with a customs union or if she sought a long delay to Brexit
The Times is gated, but Reuters carry a summary piece which is available.
The clock is ticking towards the can-kick date of April 12. After having thrown business under the bus now the government chucking itself under.
Sunday Times newspaper points out opposing factions within the Conservatives:

Crucial Update :Dollar Index ,Euro ,Yen ,GBP ,AUD ,INR ,CAD ,CRUDE ,SPX ,DJIA ,NASDAQ COMPOSITE ,FAANG Stocks -Anirudh Sethi

The US dollar rose against most of the major currencies in the last week of March.  The stronger than expected January GDP (0.3%) helped lift the Canadian dollar (~0.6%), which was the notable exception.  The Australian dollar’s rise ahead of the weekend and the end of Q4 allowed it to secure a small gain for the week (~0.2%).
The risk that the UK leaves the EU without a deal seemed to many to have increased after a majority of the House of Commons failed to back any alternative, including the Withdrawal Bill for the third (and possibly not the last) time.   This saw sterling briefly trade below $1.30.  We still think a longer extension the leads to a softer and later UK exit will eventually be negotiated and that this will be seen as sterling positive.   The Reserve Bank of New Zealand confirmed what many market participants had suspected, namely that the next move in rates is probably a cut.  This sent the New Zealand dollar lower, and after sterling’s 1.3% decline, its 1.1% decline was the second largest among the major currencies.  Around $0.6800, it is in the middle of the two-cent range that that largely confined it in Q1.
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