SYDNEY - Sterling fell over half a percent against the dollar on Monday, slipping from five-month highs after the British parliament delayed a crucial vote on a Brexit withdrawal agreement.
In Asian trade, the pound fell 0.61% to $1.2910, having hit a five-month peak of $1.2990 on Friday and closing the week just below the $1.30 mark, a 6.5% surge since Johnson struck an EU divorce deal on Oct. 10. Analysts said market focus will turn to this week’s vote on Johnson’s deal. Foreign Secretary Dominic Raab told the BBC overnight that he was confident enough lawmakers would back the deal this week.
The European Union will play for time rather than rush to decide on London’s reluctant request to delay Brexit again, diplomats said on Sunday. “The uncertainty is likely to weigh on sterling when trading resumes in Asia Pacific on Oct. 21. Volatility will remain elevated until a clearer picture emerges,” said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.
🤔🤔🤔 🤔🤔 🤔
doesn't look like her majesty
It's simply following its course. Don't politicize it. Allow us trade in peace
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