Court to Rule on Parliamentary Vote on Article 50

Prime Minister Theresa May will learn on Thursday whether she must seek parliamentary approval before triggering the formal process of leaving the European Union, a step some investors hope will lessen the chances of an economically disruptive “hard Brexit”.

London’s High Court will hand down its judgement on whether May and her ministers have the authority to invoke Article 50 of the EU Lisbon Treaty, the mechanism by which a country can leave the bloc, without the explicit backing of parliament.

May says she is determined to honour voters’ decision in a referendum last June to leave the EU, and has the authority to do so.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.