NewsCase StudiesEvents

Crucial week for pound with parliament set to vote on May's Brexit deal

Also in the news...

Foreign travel advice Indonesia

FCDO advises against all travel to parts of Indonesia.

Foreign travel advice Romania

Warnings and insurance Still current at: 24 April 2024 Updated: 23 April 2024 Latest update: Information related to drug offences and Romanian music festivals (under 'Laws and cultural differences' subheading on the 'Safety and security' page).

Foreign travel advice The Gambia

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Ferry services between Banjul and Barra have been suspended until further notice; The Islamic Summit of the OIC (Organisation of Islamic Cooperation) will be held in Banjul on 4-5 May; road closures and delays at Banjul International Airport ('Safety and security' page).

Foreign travel advice China

Warnings and insurance Still current at: 23 April 2024 Updated: 22 April 2024 Latest update: Updated information on flooding (‘Safety and security’ page).

Guidance Living in South Korea

Information for British citizens moving to or living in South Korea, including guidance on residency, healthcare, driving and more.

Crucial week for pound with parliament set to vote on May's Brexit deal

Back to News

It’s one of the most crucial weeks for the pound since the 2016 EU Referendum with parliament due to vote tomorrow night on UK Prime Minister, Theresa Mays proposed Brexit deal.

After months of negotiating and in-fighting within her own Conservative Party, May agreed a deal in principle with the EU last month and tomorrow night MPs get to vote on whether they are happy to proceed by its terms. It’s looking likely that May is heading for defeat however the margin of defeat and the repercussions will be the main talking points. Should May lose and the EU offers a token amendment with regards to the Irish border then we could be set for another vote early next year whereby MPs may be inclined to switch sides and vote in favour of the plan “in the national interest.” If there is no such offering from the EU then we could be heading for a leadership challenge, general election and another referendum amongst other possibilities. A short time ago the European Court of Justice ruled that Britain can unilaterally revoke the Brexit vote and choose to remain in the EU. As a footnote today there is UK GDP and Manufacturing Production numbers for Oct-Nov period, don’t expect much reaction to this however as all sterling traders are concerned about at present is Brexit. GBP/USD continues to trade between 1.27 and 1.28 currently sitting at 1.2725.


You are not logged in!

Please login or register to ask our experts a question.

Login now or register.