The British pound is opening Tuesday on a firmer footing after losing nearly 1% against the dollar and euro on the latest outbreak of Brexit-related volatility.
Sterling had slid after Prime Minister Theresa May’s plan to force another vote on her EU Withdrawal Agreement was struck down for procedural reasons by the Speaker of the House of Commons John Bercow.
At 03:00 AM ET (0800 GMT), the pound was at 1.3274 against the dollar, having fallen below 1.32 for the first time in nearly a week after Bercow’s announcement. Against the euro, it had recovered less and was at 1.1695, less than a quarter of a cent off Monday’s low.
The U.S. Dollar Index, which tracks it against a basket of six major currencies, was testing new six-week lows at 95.86.