Brexit limbo pauses British Pound

126752

Brexit limbo pauses British Pound

The British Pound stabilized on Thursday as Brexit enters a fresh holding pattern.

Sterling held at $1.2911 after Britain’s parliament backed a withdrawal deal while European Union members delayed deciding whether to grant a three-month extension to the October 31st leaving date.

The Pound has soared 6% in its 2-week, high-volatile trade sessions since British PM Boris Johnson flagged and later finalized a deal with the EU on the terms of Britain’s exit from the bloc.

“Sterling remains at the center of the focus of forex markets,” said Michael McCarthy, chief market strategist at brokerage CMC Markets in Sydney.

“It looks like traders are weighing up the current parliamentary shenanigans versus the inevitability of a Brexit,” he said.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong
Message: