U.S. Markets close in 6 hrs 5 mins
  • S&P 500

    4,413.77
    +18.51 (+0.42%)
     
  • Dow 30

    35,120.97
    +185.50 (+0.53%)
     
  • Nasdaq

    14,710.81
    +38.14 (+0.26%)
     
  • Russell 2000

    2,246.86
    +20.61 (+0.93%)
     
  • Crude Oil

    73.28
    -0.67 (-0.91%)
     
  • Gold

    1,812.90
    -4.30 (-0.24%)
     
  • Silver

    25.43
    -0.12 (-0.46%)
     
  • EUR/USD

    1.1882
    +0.0007 (+0.0594%)
     
  • 10-Yr Bond

    1.2140
    -0.0250 (-2.02%)
     
  • Vix

    18.38
    +0.14 (+0.77%)
     
  • GBP/USD

    1.3900
    -0.0006 (-0.0445%)
     
  • USD/JPY

    109.4860
    -0.1290 (-0.1177%)
     
  • BTC-USD

    39,471.26
    -1,992.56 (-4.81%)
     
  • CMC Crypto 200

    963.55
    +2.65 (+0.28%)
     
  • FTSE 100

    7,074.29
    +41.99 (+0.60%)
     
  • Nikkei 225

    27,781.02
    +497.43 (+1.82%)
     

Pound Falls as Commons Reject Timetable

Investing.com - The British pound fell after the government was defeated in a vote on the timetable for Brexit, diminishing the possibility of the U.K. leaving the EU before the end of this month.

The GBP/USD pair fell 0.2% to 1.2847 by 12:06 AM ET (04:06 GMT).

With no major events or economic data scheduled in Asia today, traders focused on news in the U.K. as lawmakers rejected Prime Minister Boris Johnson’s plan to fast-track his Brexit deal through parliament.

“For now it seems the market is still generally expecting this is a setback, but not a fatal setback, to a negotiated Brexit,” said Jeremy Stretch, head of G-10 currency strategy at Canadian Imperial Bank of Commerce, in a Reuters report. “There hasn’t been a rapid uptick in no-deal pricing at this point.”

While the vote means that it is almost impossible for Johnson to get his deal ratified by next week, the risk of a no-deal scenriao was also largely neutralized as the government had earlier won a first vote on the deal legislation to progress.

Traders also continued monitoring the situation on the Sino-U.S. trade front, although no major news is expected before officials from the two nations meet at the Asia-Pacific Economic Cooperation summit in Chile in mid-November.

Reports have suggested that Trump and his Chinese counterpart Xi Jinping may sign the first phase of a trade agreement at the summit.

The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched up 0.1% to 97.328.

The USD/CNY pair climbed 0.1% to 7.0842.

The AUD/USD pair and the NZD/USD pair were both down 0.2%.

The USD/JPY pair also dropped 0.2% to 108.28.

Related Articles

Pound steadies as traders wait on Brexit confusion

Pound Suffers Setback After 8% Rally as Brexit Deal Put on Hold

NewsBreak: Pound in Wild Ride as Brexit Timetable Voted Down