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Sterling Steady After EU Court Aide Says Britain Can Drop Brexit


Wednesday, 5 December 2018 00:04 WIB

Sterling,Poundsterling


c_740_198_16777215_00_images_assets_CURRENCY3_0Pound-sterling-live-948374.jpg

Sterling steadied on Tuesday after a senior European Union legal adviser said Britain could unilaterally withdraw its Brexit notice, easing some concern among investors about Britain crashing out of the bloc in March without a deal.

The advice from a European Court of Justice advocate general is non-binding but the prospect of a route out of the Brexit process cheered the market, even as Prime Minister Theresa May pressed ahead with plans for a parliamentary debate on her divorce deal with the EU.

The pound had spiked to a day’s high of $1.2840 versus a broadly weak dollar before relinquishing its gains to trade flat at $1.2734. Against the euro it rose 0.1 percent at 1640 GMT to 89.17 pence.

Source : Reuters


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