UK: PM May likely to survive - TDS

Analysts at TD Securities suggest that they are downplaying today's no confidence vote in the UK on PM May’s leadership as she is likely to survive.

Key Quotes

“Political overtures by the PM to rival parties in the aftermath of defeat suggest that a soft Brexit may be in the offing. This should ultimately bode well for GBP in the medium-term. For now, spot conditions should remain choppy in the days ahead within a 1.2800/2930 range. Vol markets should be pressured lower as well.”