Pound Rallies As Commons Pass Bill Requesting Another Brexit Delay By One Vote
Wednesday, April 3, 2019 at 07:44PM
Silver Prices

Succeeding in their latest attempt to head off a no-deal Brexit, the Commons has passed the Cooper Letwin bill legally requiring Prime Minister Theresa May to request another delay of Article 50 if the UK looks to be on the cusp of leaving the EU without a deal.

After rejecting all of the proposed amendments, the Commons passed the bill by a margin of just one vote, winning 313 to 312. It now heads to the House of Lords, which is expected to vote on the measure on Thursday.

The pound climbed as the bill's passage appeared to lessen the chances of the UK leaving the EU without a deal (though, even if May does request another extension, the EU could still opt to deny her request, which European Commission Jean Claude Juncker has suggested would be the case).

 GBP/USD climbed as much as 0.2% to 1.3179.

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If both the Pound and the Euro make gains then the Dollar could come under pressure and be supportive of gold in Dollar terms, but don't count on it.

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