DJIA26202.73
LIVE240.29(0.93%)
NDX7733.22
LIVE68.75(0.90%)

Sterling rebounds from lows as Brexit rebels pledge loyalty to May


Wednesday, 12 September 2018 23:31 WIB

poundSterling,Poundsterling


c_740_198_16777215_00_images_assets_CURRENCY2_GBPfocus.jpg

Sterling bounced back from early lows in volatile trading on Wednesday after Brexit-supporting members of parliament in British Prime Minister Theresa May's party publicly pledged support for her to stay in power.

The pound had fallen as much as a quarter of a percent to below $1.30 against the dollar after the BBC reported a group of MPs in May's ruling Conservative Party had met to discuss how and when they could force her out of her job.

But it later rose as MPs within her party said they wanted May to stay in power despite disagreeing with her Brexit proposals. Rebellious Conservative MPs have condemned May’s plans for Britain to remain in a free trade zone for goods with the EU after it leaves the bloc.

The Bank of England meets on Thursday for its monetary policy meeting, at which it is expected to keep rates on hold.

Analysts said Brexit would dominate sterling trading.

In choppy trading in recent days, sterling had hit five-week highs of $1.3087 on renewed hopes of a speedy Brexit deal with Brussels.

The pound has lurched up and down on almost every Brexit-related headline in the past week, as traders struggle to decipher whether Britain can avoid a no-deal Brexit when it leaves the EU.

Source: Reuters


RELATED NEWS

  • The AUD/USD pair remains modestly changed at 0.6765 after the Reserve Bank of Australia (RBA) released minutes of its August 07 meeting on early Tuesday. Although the Aussie central bank left its mon...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.