British Pound Gains After Parliament Seizes Control of Brexit Process

Tuesday, 26 March 2019 23:37 WIB



The British pound on Tuesday strengthened against its main rivals as the U.K. Parliament seized control of the Brexit process late Monday, dealing a fresh blow to embattled Prime Minister Theresa May.

In another reasonably close result, 329 members of Parliament voted in favor of so-called indicative votes to narrow down Brexit votes that can get majority support. A range of options will be taken up for a vote on Wednesday. These alternatives could include a second referendum, canceling Brexit altogether or a no-deal exit from the European Union.

May’s deal was expected to come to a third vote this week, after earlier versions were rejected by lawmakers in January and earlier this month. On Monday, the premier acknowledged that she didn’t have enough support to bring it to a vote yet.

The British pound was stronger on Tuesday, buying $1.3225, compared with $1.3196.

The ICE U.S. Dollar Index bounced back from an earlier decline and rose 0.1% to 96.672, despite weaker-than-expected consumer-confidence index for March that underlined worries about the economy. The index fell to 124.1 in March, compared with 133 expected.

Source : Market Watch


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