The febrile state of UK politics and its journalists might get you thinking that the UK markets were expiring as fast as the Brexit deadline. Certainly, there’s been a bit of to-ing and fro-ing in the currency market although the moves were miniscule in comparison to the aftermath of the referendum (or the leaving of the exchange rate mechanism in 1992).
The events of this week seem to have been forecasted rather well by many; for months now the consensus central scenario has been a soft Brexit agreement with a delay in implementation:
The possible scenarios depend firstly on “Meaningful Vote 3” (MV3 as it has come to be called). Just like many 3rd movies in a series, MV3 has the same plot with the same lead actor as MV1 and MV2 and the markets think the twists will still end up with Liam Neeson winning.
A possible twist might be that any further sequel has a different lead actor.
