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Brexit Deal Wins, But Johnson’s Timetable Loses

JFD

The British currency was once again in the financial world's front seat yesterday, ending as the main loser among the G10 currencies. It initially gained after the UK Parliament voted in favor of UK PM Johnson’s Brexit deal, but was quick to reverse south as MPs rejected his legislation timetable. The broader market sentiment was also hurt, with all three US indices, and most of the Asian ones today, closing their session in the red.

Pound the Main Loser as UK MPs Reject Johnson’s Brexit Timetable

The British pound traded lower against all the other G10 currencies on Tuesday and during the Asian morning Wednesday. It underperformed the most against JPY, USD and CAD in that order, while it lost the least ground versus AUD and NZD.

And the show goes on. For another day, it was all about Brexit, Brexit and… Brexit. Yesterday, the UK Parliament held two votes related to the deal agreed between the...

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/brexit-deal-wins-but-johnson-s-timetable-loses-20191023
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