The pound to dollar exchange rate hit a five-month high today. At the time of writing, it had risen to $1.3005, according to Bloomberg. Michael Brown, Senior Analyst at Caxton commented: “Sterling has risen above the key $1.30 level this morning for the first time since May, as optimism that a Brexit deal will pass in the Commons continues to build. The numbers now appear to be present for a ‘meaningful vote’ on the new Brexit deal to succeed, however it remains unclear whether Speaker Bercow will permit such a vote to take place.

“Should a vote not take place, attention will shift towards tomorrow’s vote on the 2nd reading of the Withdrawal Agreement Bill – the legislation that implements the deal in the UK.

“Such a vote, if passed unamended, would pave the way towards an orderly Brexit, and should see the pound continue to press higher.”


READ  Toyota Kirloskar launches upgrades of Innova Crysta, Fortuner


Please enter your comment!
Please enter your name here