The pound fell Friday after Britain’s parliament again rejected a proposed deal to withdraw from the European Union.
Sterling had been mostly stronger against both the dollar and the euro in the runup to the vote, but then fell to its lowest point against the greenback in more than two weeks within moments of the count.
It then went on to recoup some of the losses towards the late afternoon, proving right analysts like ThinkMarkets’ Naeem Aslam who had predicted “crazy moves” in sterling before voting began.
“Sterling’s midday bounce felt a long way away on Friday afternoon, as MPs inflicted another embarrassment on a Theresa May premiership defined by them,” said Spreadex analyst Connor Campbell.
Lawmakers in parliament’s lower House of Commons defied May’s plea to end a political deadlock over Brexit, defeating her withdrawal agreement by 344 votes to 286.
“We thought it was going to be a lot closer,” Joshua Mahony told AFP on the IG…