Brexit is coming this week - Nomura

Analysts at Scotiabank explained that Brexit is coming this week.

Key Quotes:

"PM May will get the process underway Wednesday but sterling does not seem to care too much. Positioning may be a factor here as well, with the immediate risks around Brexit proving much more limited than most would have expected after the referendum outcome (the economy is holding up well) and stronger price action moving against a significant speculative short overhang (at least according to Friday IMM data) here."