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British pound jumps 1 percent before voting on Brexit bill

2019-09-04 11:42 am | Resource: News | No Views : 89

British pound  jumps 1 percent  before voting on Brexit bill

The British pound jumped almost 1% on Wednesday at a daily high of 1.22196 against the dollar before voting on a bill aimed at halting the Brexit and postponing the Brexit to January 31, 2020.

Johnson: Opposition stands in the way of Britain's exit from October

 UK Prime Minister Boris Johnson said on Wednesday that his government was determined to push the country out of the European Union on October 31 despite opposition attempts to delay the Brexit.

Johnson claimed that the opposition "surrender bill", which seeks to block the possibility of a Brexit without a deal, stands in the way of a referendum in 2016 and undermines the government's chances of getting a good deal from the EU. However, he noted that if the opposition bill is passed, UK residents will get an opinion on what they want in the October 15 general election.

Later in the day, lawmakers were expected to vote on a motion to delay the Brexit until January 31 if the deal is not agreed by October 17.

EU warns of high risk of Brexit

The European Commission warned on Wednesday that the risk of the UK leaving the European Union without an agreement is approaching its departure date of 31 October.

“The short time remaining and the political situation in the UK has increased the risk of a UK withdrawal on that date without agreement, the Commission noted and called upon all stakeholders in the EU Member States to intensify preparations for not reaching the Brexit Agreement. However, the Irish pillar is "the only solution that defines the Good Friday Agreement, ensures compliance with international law obligations and maintains the integrity of the domestic market" and cannot be removed from the current withdrawal agreement before an alternative solution is found.

GBP Trades
  • The pound rose 0.90% and went to 1.21909 against the dollar at 1:13 CET.
  • The pound rose to a two-day high of 1.2016 against the franc.
  •  The pound rose to a two-day high of 0.9032 against the euro.
  • The pound reached a 5-day high of 129.51 against the yen


Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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