Brexit: The pound remains firm after the rejection of the motion of censure


LONDON (Reuters) – The british pound has remained firm Wednesday evening, after Theresa May has rejected a motion of censure, dealing near its peak of two months with the day before, following the rejection of the agreement on the exit of the Uk from the european Union.

The First british minister survived the no confidence motion filed yesterday by the labour Party in the wake of the rejection by the House of commons of the draft agreement argued, on the Brexit.

The mp, who clearly had expressed on Tuesday their rejection of the provisions negotiated by Theresa May with the Europeans for the Brexit, rejected by 325 votes against 306 the attempt of Labour to overthrow the government.

These two polls have for consequence to maintain Theresa May at 10 Downing Street and put it in the obligation to find a compromise capable of meeting a majority of parliamentarians on the terms of the divorce with the EU.

The magnitude of the rejection of the agreement on the Brexit Tuesday appears to open the way for a series of other options, including the postponement of the scheduled date to march 29, the output of the countries of the european Union, or even a second referendum on the Brexit, even if Theresa May has rejected these assumptions in the past.

“The focus will now quickly turn to plan B. We suspect that the plan B presented Monday, will look strangely to the plan, which is not expected to give very clear direction to the market,” said Dean Turner, senior economist for the Uk at UBS Global Wealth Management.

He added that given”political developments are impossible to predict”, it would not be wise to take bets on the evolution of the pound sterling for the moment.

To 21: 10 GMT, the pound is trading at 88,50 pence for a euro, against 88,65 before the vote and an increase of 0.28% on the day, not far from the peak two months to 88,40.

Against the dollar, the pound sterling rose 0.12 per cent to 1,2885 and $ 1,2850 shortly before the vote, after having touched a peak of two months here also, 1,2930 dollar on Monday.

(Saikat Chatterjee, Juliette Rouillon for the French service)

Like this post? Please share to your friends:
Leave a Reply