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- The pound extends gains, rising 1% against the dollar to $1.2612 as market participants expect U.K. Prime Minister Theresa May to win the no-confidence vote on Wednesday - ING
The pound extends gains, rising 1% against the dollar to $1.2612 as market participants expect U.K. Prime Minister Theresa May to win the no-confidence vote on Wednesday - ING
But this means it will be hard for sterling to collect further gains if she does win, ING says, adding that "GBP/USD would struggle to sustain a rally above 1.2650/2700." The rise in sterling will not only be modest, but also temporary. PM May "has to put her withdrawal agreement to parliament and face likely rejection." The pound fell this week to its lowest in 20 months against the dollar after the vote in parliament on the Brexit deal was postponed. - via WSJ
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