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Sterling Rises as May Faces Pressure to go for Soft Brexit


Monday, 1 April 2019 15:53 WIB

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The British pound rose on Monday as investors prepared for parliament to vote on a series of Brexit options, with some hoping that the current uncertainty will end in a softer Brexit than Prime Minister Theresa May's defeated withdrawal agreement.

May's deal was voted down for a third time by lawmakers on Friday, sending sterling plunging to below $1.30.

But the British currency has held at or above that level since, suggesting some investors have priced out the prospect of Britain crashing out of the European Union without a deal and instead expect a long delay to the exit or Brexit to emerge eventually where closer ties are maintained to the trading bloc.

Sterling rose 0.3 percent to $1.3076 by 08:20 GMT, while the pound was flat at 86.035 pence per euro.

Source : Reuters


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