Sterling stronger as British lawmakers fight to avert no-deal Brexit

Wednesday, 4 September 2019 23:14 WIB



Sterling jumped briefly above $1.22 Wednesday for the first time since Aug. 30 as investors became slightly more optimistic about Brexit after British lawmakers seized control of the parliamentary timetable to try to block a no-deal Brexit.

The latest sterling moves take it further off three-year lows of $1.1959 hit before the parliament vote.

By 15:45 GMT, sterling was up 0.8% at $1.2189, having vaulted briefly to a one-week high of $1.2220 as it was boosted also by a 0.4% dollar pullback sparked by Tuesday’s dismal U.S. manufacturing data.

Against the euro, the pound was up by 0.4% at 90.48 pence.

Sterling volatility gauges also eased, with two-month implied volume, a contract capturing the Oct. 31 Brexit deadline, falling from three-year highs reached on Tuesday.

Source : Reuters


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