UK data should shape the Brexit story

You can't look at the UK market or the currency without taking into account the current state of Brexit. The postponement of the deal to October and subsequent election caused the Pound to drop. The stock markets have been taking this news fairly well staying in line with other major indices. The question now comes down to the data. Will there have to be a pronounced decline  in UK data to prompt the British government to take early action against the threat of a no deal Brexit? News today shows that steps are trying to be made to prohibit that from happening, but without a sense of urgency it will be important to see how the vote goes. 

Like many investors are probably thinking, I like the UK as an investment opportunity but am holding off in light of the political threat to the markets. This paralysis is going to seep into the economy as uncertainty continues. For this week I am going to keep an eye on the BOE governor to see what he thinks monetary policy will have to do in this interim period, and after.