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.
: EU leaders to lock horns over budget issues as Brexit leaves huge budget void17.02.2020
British consumers brace for inconvenient shopping sans clear post-Brexit trade deal14.02.2020
Financial menace hounds British markets amid Brexit transition06.02.2020
Post-Brexit UK keeps hopes up for early free trade with Australia