British pound hit by volatility ahead of key Brexit vote

Tuesday, 12 March 2019 23:38 WIB



Tuesday's session was dominated by the British pound and Brexit's pending vote on how the U.K. will leave the European Union on March 29.

The British pound  experienced a volatile morning, marked by a sharp 2% swing between its high and low-point, ahead of the key vote in Parliament on Prime Minister Theresa May's revamped Brexit deal. The U.K.'s pro-Brexit European Research Group said it couldn't recommend backing the prime minister in Tuesday's vote. The vote is expected around 7 p.m. London time, or 3 p.m. Eastern.

The pound last bought $1.3124, having recovered from its session low but still down from $1.3149 late Monday. Against the euro sterling also dropped sharply, with the shared currency buying £0.8592, up 0.5%, also off its highs.

Source : MarketWatch


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