Pound wobbles as uncertainty swirls after May's Brexit defeat

Wednesday, 16 January 2019 15:50 WIB

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The British pound was slightly weaker Wednesday, as investors continued to absorb the overwhelming rejection by U.K. politicians of Prime Minister Theresa May’s Brexit-plan, and looked toward what was next for the country.

Sterling was changing hands at $1.2848, slightly below $1.2860 seen late Tuesday in New York. The pound managed to retrace all of its losses after the vote was rejected and May vowed she wasn’t trying to run down the clock on the Brexit timeline. Tuesday’s volatile session saw the pound swing from a peak of $1.2917 in Asian trade, to a drop to $1.2670 just ahead of the vote.

The pound was flat against the euro with the shared currency buying £0.8872.

Elsewhere, the ICE U.S. Dollar Index slipped 0.1% to 95.909, with weakness largely stemming from strength in the Japanese yen. The dollar  last bought ¥108.44 versus ¥108.69 late Monday in New York.

The shared currency was flat at $1.1405, compared with $1.1415 late Tuesday.



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