Sterling gained on Monday on signs some pro-Brexit lawmakers were increasingly w...
LONDON - Sterling gained on Monday on signs some pro-Brexit lawmakers were increasingly willing to compromise with Prime Minister Theresa May, increasing the chances the British leader will get her Brexit deal through parliament next week.
Media reports over the weekend also suggested London was softening its demands of the European Union in renegotiating parts of the Brexit withdrawal deal that is deeply unpopular within large parts of May’s own Conservative party. The British parliament is set to vote on May’s deal next week. If it fails to pass, lawmakers will get to vote on whether to delay Brexit, currently set for March 29.
“The nonetheless rising odds of PM May’s deal succeeding are now helping GBP,” ING analysts said in a note.Versus the dollar, the pound added 0.2 percent to $1.3235. Last week sterling hit as high as $1.3351 as investors piled back into the currency in the belief a disorderly no-deal Brexit was far less likely.
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