The pound edged up on Wednesday following the defeat of British Prime Minister Theresa May’s European Union exit deal, but investors braced for more volatility ahead of additional Brexit proceedings.
Sterling was up 0.2 percent at $1.3089 and stuck to a narrow range. The currency had lost 0.65 percent the previous day, when it fluctuated widely between $1.3290 and $1.3005.
The euro was a touch lower at $1.1283 after rising 0.4 percent the previous day as the greenback sagged on the lacklustre U.S. inflation data.
The British Parliament on Tuesday rejected May’s deal to quit the European Union for a second time, deepening the country’s political crisis days before the planned departure date on March 29.
Lawmakers will now vote later on Wednesday on whether Britain should quit the world’s biggest trading bloc without a deal. If such a “no-deal” exit plan is rejected, another vote will be held on Thursday on whether to extend the March 29 departure date.
Via Euronews
