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Daily Currency Report 2016-12-21

Posted by Douglas WV on December 21, 2016
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GBP

Brexit news dominated the headlines yesterday after Theresa May indicated MP’s in Britain would not be given a vote on the final deal negotiated by the government after two years of talks with representatives of the other 27 countries in the EU.

May refused to commit to giving MP’s a vote on the final deal when she was questioned repeatedly about the issue by Labour’s Hilary Benn, the chair of parliament’s Brexit committee at the Liaison committee meeting.  The comments didn’t sit well with Parliament analysts as MEPs are guaranteed a vote and they can vote the deal down.
 

EUR

German Chancellor Angela Merkel vowed to punish the Christmas market attackers in taking a tough stance as she faces re-election.

The horrendous attack, believed to be carried out by a refugee, could force shut Merkel’s open door policy after relinquishing control over Germany’s borders. Reports indicate nearly 800,000 people from the Middle East as well as North Africa have arrived. For Merkel, the “open door” was a grand moral gesture and if the perpetrator is indeed a refugee, “this would be extremely hard for us to bear”.

The far right  Alternative für Deutschland – a political party roughly comparable to Ukip – will take advantage of the tragic events in the 2017 general elections when Merkel runs for a fourth term.
 

Key Announcements

15:30 – USD – Crude Oil Inventories

 

 

Report courtesy of RationalFX

RationalFX

 

 

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