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Theresa May reportedly set to meet with Graham Brady at 0800 GMT

Sky News political editor, Beth Rigby, reports

She is expected to make the announcement afterwards. I reckon it basically confirms she will announce a firm departure date, but the question is will it be today?

Based on price action since she announced her WAB, I reckon the market reaction to any news later could be rather subdued. Traders have had quite some time to digest the recent events in the Brexit saga and everyone is just waiting on May to announce her resignation.

The pound may still catch a bit of a bid based on overdue expectations but amid all the chaos, whoever is in line to succeed May won’t have it any easier as her departure does not change the current Brexit impasse.

As such, I’d be inclined to sell rallies from the announcement as we could even be moving closer towards a no-deal outcome depending on who replaces her – as it stands, BoJo is favourite so there’s your Brexit risk right there.
ForexLive

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