Brexit could be delayed until late 2019 with UK government departments not ready yet

Author: Mike Paterson | Category: News

The Sunday Times with the story. Reuters reporting 14 Aug 2016

  • City sources cited as having been privately briefed by UK govt ministers
  • Brexit govt departments not ready/fully staffed
  • Article 50 could be invoked later than currently thought as outlined by PM May and intl trade minister Liam Fox both of whom had pointed to early 2017 for pressing the trigger
  • elections in France (May) and Germany ( Sept) could also push back the timing says the report

The suggested end-date is a year later than previously expected.

As I mentioned in my previous post re the late fall in GBP on Friday ( albeit amidst general USD demand but with most GBP pairs closing on session lows) it's not unreasonable to suggest that reports of these latest comments were circulating already in advance of publication.

The words "City sources" and "privately briefed" offer a bit of a clue.lol

Expect the pound to remain on the back foot though, even if some of this is already in the market, as both Haldane's comments and this report mean more, and prolonged, uncertainty.

More from The Sunday Times here (gated).

I'm out of here now to enjoy the rest of the week-end. Have a good day wherever yours takes you, and thanks as always for your wonderful support.

             UK PM May - Could be pushing that Brexit button later than first thought

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