Brexit - as the prospects for a 'no deal' exit appears to fade, a GBP positive

Plenty to mull in development over the weekend in UK - EU developments:

• Your weekend catch-up on Brexit developments & why GBP has opened lower in early Asia trade

GBP opend a little weaker in early trade, but small only.

Everyone was set for a big weekend in the UK parliament with a vote on the UK PM's Johnson's deal, but that was not to be. Analysts have been busy nevertheless:

AMP in Australia:

• more significant price action is to come this week
• small tail risk of no deal Brexit on October 31 has fallen further
• likelihood of positive breakthrough has been pushed further out but not removed

NatWest:

• expect parliament to vote for an election
• election at the end of November or into middle of December
• risks of no deal are disappearing
• major parties are either intent of leaving EU with a deal or on holding a 2nd referendum
• GBP/USD likely to move higher, above 1.35 in coming weeks