The Court of Sessions in Edinburgh ruled yesterday that Boris Johnson’s advice to the Queen to suspend Parliament was illegal, stating that the prorogation was ‘unlawful and is thus null and of no effect.’ Thus far, No 10 has said that Parliament will not return until the Supreme Court gives its ruling on the appeal. The government has also been forced to publish the details of their ‘Yellowhammer’ document, which outlines the possible implications of a no-deal Brexit.
A rate cut and announcement of a stimulus package is widely expected from the ECB’s meeting at noon, and the markets will be closely watching for any hints of the size of that stimulus in the run-up today.
Trump has continued to criticise the Fed Reserve for refusing to make large interest cuts, as its next rate decision comes closer. Today, we will see US inflation figures and jobless claims, before a raft of releases tomorrow.
There’s a lot of uncertainty – no-one can even say for certain whether Parliament might return sooner than expected – so make sure to ringfence your money against the risk of the live markets. Secure a fixed exchange rate today with a forward contract by calling your Personal Trader on 020 7898 0541.
