The pound extended its gains after the U.K. Parliament rejected leaving the European Union (EU) without a deal, opening up the way for Britain to delay its departure and seek an orderly divorce.
Sterling was the best-performing Group of 10 (G-10) currency on Wednesday as investors bet lawmakers would rule out what is seen by businesses and economists as the worst-case scenario. The result means Parliament will vote Thursday to decide whether to postpone the U.K.'s exit from the EU in just over two weeks' time.
The development came after Parliament a day earlier rejected a revised version of the withdrawal agreement that Prime Minister Theresa May has spent the past two years negotiating with the EU. May is planning to ask the EU for an extension to the March 29 Brexit deadline lasting about two months, according to people familiar with the matter.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
