MUFG Research discusses GBP outlook and highlights 3 events took place and all could prove significant in shaping Brexit and GBP outlook.
"Firstly, the formal non-binding legal advice provided to the ECJ indicated that the UK could in fact unilaterally withdraw from Article 50 at any stage prior to 29th March.
Secondly, the government lost a contempt of parliament vote which essentially means the full legal text from Attorney General Geoffery Cox will now be published today.
And finally, the government lost a vote that ensures an amendment to the Brexit vote next week will provide parliament with the opportunity to shape the direction of travel if that vote fails to pass on Tuesday. The pound ended lower on the contempt of parliament vote and broader risk-off financial market conditions," MUFG notes.