Prime Minister Boris Johnson is facing a key vote this evening in Parliament as rebels from within his own party are expected to join ranks with the opposition in order to thwart a no deal Brexit. The UK is now scheduled to leave on October 31st 2019 and PM Johnson stated that he will not ask for an extension. He vowed to deliver Brexit to the people and honor the results of the 2016 referendum where 52% voted to leave the EU. Most recent polls suggest that the number rose to 56% after Johnson took over as prime minister only a few weeks ago. The EU has so far refused to renegotiate as it awaits how much support the opposition can muster to at least rule out a no deal Brexit.

Johnson has pointed out that the ability to walk away and execute a no deal Brexit gives the UK leverage in negotiations in order to seek changes to the deal which his predecessor Theresa May brought back from Brussels and which was rejected by Parliament three times. In case this evening will see Parliament pass legislation to stop a no deal Brexit and ultimately ask for another delay, Johnson plans to call for snap election on October 14th 2019. He stated “I want everybody to know there are no circumstances in which I will ask Brussels to delay. Let’s let our negotiators get on with their work.” The British Pound came under pressure yesterday, but support levels remain intact as forex traders await the result of this evening’s motion to stop a no deal Brexit.