LONDON: The pound strengthened against both the dollar and the euro on Tuesday as investors took heart from legislation blocking a no-deal Brexit.
"With the risk of an imminent no deal Brexit declining, the market is now pricing less aggressive easing from the Bank of England," said Petr Krpata, strategist at ING, saying this had allowed sterling to outperform its peers. "With no more parliamentary sessions due for five weeks the focus now turns to the prospects of a new deal being negotiated between the UK and the EU," said XTB analyst David Cheetham.But City Index analyst Fiona Cincotta cautioned that the pound remains fragile."With no resolution to Brexit or any sense of control returning to UK politics, the pound could struggle to keep its head above water in the coming sessions," she said.
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