Analysts at ANZ Bank New Zealand Limited explained that the UK political uncertainty remains rife.
Key Quotes:
"The EU says a deal is almost ready, but not quite there."
"The main obstacle to overcome appears to be around the mechanism by which the UK would leave a backstop agreement were it ever triggered."
"The EU says it is working on a joint mechanism and that technical discussion are intense."
"If a November summit on Brexit is to be feasible, Brussels says it needs to hear from the UK by Wednesday as reports swirled that the text of a Withdrawal Agreement is ready, only to be pushed back."
"UK political uncertainty remains significant and tomorrow’s cabinet meeting is key as to whether or not a November Summit will occur."
"PM May must convince the cabinet that her proposal will deliver Brexit and also appease anxieties amongst both leavers and remainers."
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