In an unexpected move, the EU court announced the possibility of UK activate Article 50, which allows it to leave the EU unilaterally. The announcement comes as UK Prime Minister Teresa May is moving ahead with plans to hold parliamentary debates on her EU deal, which is due to be voted on next Tuesday.
The opinion of EU court advisor Consultant, that it does not affect the decisions of the judges of the Court, which was announced against the background of Scotland to ask questions as to whether UK has the right to withdraw unilaterally from the Brexit or not. GBP/USD rallied 0.6% higher at 1.28, and 0.4% higher against the EUR.
But the official spokesman for the prime minister said that UK government would not cancel its notice of withdrawal from the European Union. She is due to leave Britain on March 29 next year, but it seems that there is still a long way to go before Prime Minister Mai, who meets a strong challenge to exit plans.
On the other hand, the Australian dollar rose strongly at the beginning of trading today to close to a four-month high after the Reserve Bank of Australia kept interest rates unchanged at 1.5% at its meeting this morning. IT praised the start of the improvement in the pace of growth of the economy, but it will take some time before reaching the desired pace. The bank kept the rate hike track unchanged until 2020.
Markets are looking ahead to Australian GDP data in the third quarter of the year as the data will have a strong impact on the Australian dollar, which is closely watching developments to determine the Bank's intentions for the coming period. In the evening, the Bank of Canada is due to announce its interest rate decision, which is expected to remain unchanged for the second consecutive meeting at 1.75%, as it will be prudent to see how the recent lift decision affects the markets before any new action is taken.
