The pound has been in negative territory this morning after two votes took place in the House of Commons yesterday. Parliament voted in favour of the Withdrawal Agreement Bill by 329 votes to 299. However, MPs rejected the Prime Minister’s plan to push through legislation in three days, causing the government to ‘pause’ the bill.
The EU will now consider whether to grant an extension and how long for. If granted, the Prime Minister says he will call a general election.
Sterling was choppy against the pound and dollar yesterday, starting the day strong and then dropping in the afternoon. The drop occurred as the government said that it will abandon the Brexit bill if the proposed timetable to get it through Parliament is not approved.
As the week continues and different events unfold, we could see further volatility for sterling.
