The pound steadied on Wednesday after an overnight fall as Brexit hung in the balance, with the UK Parliament still divided on how, when or even if to engineer Britain's departure from the European Union.
On Tuesday, UK lawmakers voted by 329 to 299 in favor of Prime Minister Boris Johnson's Brexit plan, but then opposed Johnson's extremely tight timetable to complete the legislative process in three days by 322 to 308 votes.
It is now up to the EU to decide whether to extend Britain's Oct. 31 deadline for its departure from the bloc, although there is hope Britain can avoid the worst case scenario, which is leaving the EU without any deal in place.
The pound traded at $1.2880, stabilizing after a 0.7% drop on Tuesday. Against the euro, the pound as steady at 86.38 pence following a 0.5% decline in the previous session.
Source : Reuters