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Citi Wealth Insights

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EU grants Brexit extension but on new terms

Cable’s initial drop to a 1.2983 low overnight are a result of fears that the European Council would only commit to agreeing to a Brexit extension until 22 May 2019 (ie. no further extension possible) and only if the UK House of Commons is able to pass the Withdrawal Agreement early next week.
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Fed favors extended rates pause and end QT in September

The Fed FOMC proves more dovish than expected overnight.
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EU may grant “contingent” Brexit extension

Sterling remains well supported as markets continue to view the Brexit choice now as between a short (if PM May gets her deal through UK parliament) versus long extension to Article 50.
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Brexit’s 3rd Meaningful Vote likely delayed to next week

Overnight Brexit developments take yet another twist with press reports claiming there would be no deal between PM May and DUP this week, pushing back the Meaningful Vote 3 (MV3) possibly to next week (Monday – Wednesday) or perhaps even later.
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Brexit: 3rd Meaningful Vote likely as well as more EU discussions

PM May team’s remains in talks with Northern Irish (DUP) lawmakers whose support she needs to get her deal over the line (twice rejected) in a 3rd Meaningful vote likely this week (March 20).
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Brexit developments overnight - Another Chance For PM May?

PM May gets her way – the UK Parliament overnight approves the government’s Brexit delay motion by 412-202 votes that would allow it to seek an Article 50 TEU extension until 30 June if Parliament passes PM May’s deal in a third meaningful vote before next week’s EU summit.
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