Abstract:The British Pound is clinging on to its recent rebound from multi-year lows following the latest Brexit development which puts MPs in control of Parliaments agenda and reduces no-deal Brexit risk.
BRITISH POUND, BREXIT LATEST, UK PARLIAMENT VOTE
British MPs pass vote to take control of Parliament agenda 328-301 in latest blow to Brexit hardliner and Conservative PM Boris Johnson
GBPUSD rose to session highs as the Pound Sterling erased losses earlier in the day on damped no-deal Brexit risk
Check out our Brexit Timeline for details on how Brexit negotiations have impacted the UK, Pound Sterling and financial markets
With British MPs now in control of Parliament‘s agenda, the House of Commons is set to debate and vote on a motion during tomorrow’s session aiming to delay the October 31 Brexit deadline. The move comes in response to last weeks Brexit development when PM Boris Johnson received approval from the Queen to suspend Parliament and force a no-deal departure from the EU.
Following the results, a frustrated PM Boris Johnson stated that “Parliament is on the brink of wrecking any Brexit deal,” adding that if Parliament votes to delay Brexit on Wednesday a general election will be called. On the other side of the isle, Labour Party leader Jeremy Corbyn stated that he welcomed tonights vote.
GBPUSD PRICE CHART: 15-MINUTE TIME FRAME (SEPTEMBER 02, 2019 TO SEPTEMBER 03, 2019)
The British Pound extended its intraday rebound following the latest Brexit vote results. The Pound Sterling may continue to climb as it mirrors the fall in no-deal Brexit risks.
A week of consolidation Ahead amid renewed USD strength
Signs that UK Inflation peak is close
Signs that UK Inflation peak is close
Investors quietly returned from a long weekend, with a pitch of optimism amid reports suggesting that the Omicron variant is much less serious and less likely to end with hospitalizations than the previously known strains, despite being highly contagious, according to reports coming from the UK and South Africa.