Pound Falls As PM May Set To Unveil Plan B
21 Janvier 2019 - 7:30AM
RTTF2
The pound fell against its major counterparts in the early
European session on Monday, as U.K. Prime Minister Theresa May is
set to deliver the 'plan B'to the UK parliament later today,
following a major setback on the EU withdrawal agreement in
Parliament last week.
The PM will address the House of Commons around 15:30 GMT, when
she will outline her plans to proceed with the Brexit withdrawal
agreement.
The MPs were advised to not frustrate the Brexit process by
laying out amendments and motions that could delay or lead to a
no-Brexit.
The government will table a "neutral motion" and deliver a
written and an oral statement to the MPS about her next plans.
European shares are trading mixed as the latest GDP data from
China confirmed a slowdown in the world's second largest economy
and the Bloomberg reported that the U.S. and China are making
little progress on the key issue of intellectual property
protection.
The currency traded mixed against its major counterparts in the
Asian session. While it held steady against the greenback and the
franc, it fell against the euro and the yen.
The pound slipped to 4-day lows of 1.2781 against the franc and
0.8862 against the euro, off its early highs of 1.2821 and 0.8816,
respectively. If the pound falls further, 1.25 and 0.90 are likely
seen as its next support levels against the franc and the euro,
respectively.
Reversing from its early highs of 141.32 against the yen and
1.2880 against the greenback, the pound fell to a 4-day low of
140.69 and a 5-day 1.2831, respectively. The next possible support
for the pound is seen around 138.00 against the yen and 1.27
against the greenback.
U.S. markets will remain closed in observance of Martin Luther
King Jr. Day.
Euro vs Sterling (FX:EURGBP)
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Euro vs Sterling (FX:EURGBP)
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