UK junior Brexit minister expects EU to make decision on Article 50 this week

Comments from UK junior Brexit minister Kwarteng:

• We will look to request an extension to Article 50 in advance of March European Council
• As soon as possible following an agreement at the EU level we will bring forward necessary legislation to amend exit day
• Expect EU to make a decision on Article 50 extension at the European Council this week

So far there haven't been many murmurs about the EU balking at the extension but those might start to get louder later this week. I see risks to the downside in the near-term for GBP.

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• I still think there is a chance the Brexit deal can come back and go through Parliament