Sterling Volatile as Brexit Extension Vote Looms

The pound hits turbulence on Thursday as MPs vote on extending Article 50 amid scenes of political chaos in Westminster

Alliance News 14 March, 2019 | 8:50AM

UK Prime Minister Theresa May

The British pound started strongly on Thursday morning as traders reacted to the Government's latest defeat over its Brexit plans.

Currency traders had pushed sterling up from $1.30 at the start of the week to over $1.33 this morning as the prospect of a no-deal Brexit was averted, opening up the possibility of an extended withdrawal period from the EU, a General Election or even a second referendum. However, the currency then went into an abrupt reversal as the morning progressed. 

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