Forex News Timeline

Speaking in BBC’s Andrew Marr Show earlier this Sunday, the UK Deputy Finance Minister Rishi Sunak said that PM Johnson is considering bringing back Brexit legislation to parliament before Christmas. Key Quotes: “The overriding mandate that we have from this election is to get Brexit done ...We will leave the European Union in a matter of weeks, by the end of January. Our intention is to bring the Withdrawal Bill, the legislation, back to parliament before Christmas.”  “It’s our number one domestic priority and I think this piece of legislation will just underscore that commitment.” Queen to set out UK PM Johnson's agenda on Thursday - Reuters The UK government’s commitment to getting Brexit done swiftly is likely to add to the optimism around the pound. Markets could see a fresh round of buying the GBP/USD pair in Monday’s Asian trading, with 19-month highs of 1.3515 back on sight.

Dismissing the criticisms that the Swiss National Bank’s (SNB) status-quo’s side effects are felt by banks and pension funds at home, the central bank’s Chairman Thomas Jordan said on Saturday that SNB stands firmly behind its “very productive” decision to keep rates negative. Additional Comments: “We are exposed to many shocks from abroad.” “We could certainly cut interest rates again if absolutely necessary, but that is not something we aim to do for now.” SNB steers rates on a steady course    

The UK PM Johnson’s office released a statement on Saturday, citing that Queen Elizabeth will make a speech on Thursday, setting out Johnson’s legislative agenda following his commanding election victory, per Reuters. Further Details: “The so-called Queen’s Speech is used to detail all the bills the government plans to enact over the coming year.  The Queen’s Speech will also detail plans to provide a better service for rail commuters, greater protection for people who rent their homes, and stop local authorities boycotting products from other countries such as Israel.          The restoration of devolved government in Northern Ireland after a near three-year hiatus and “a strong United Kingdom” will also be a focus of Johnson’s government.” Meanwhile, the Cable settled below the 1.3350 level on Friday, reversing more than half the rally to nineteen-month highs of 1.3515 reached amid a landslide Conservatives victory in the UK election. The pound may continue to remain supported in the coming days, as Johnson’s win is seen as paving way for a swift Brexit before January 31^st, 2020.