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Pound Soars Most Since 2008 After UK's May Calls For Parliamtary Vote On Brexit
Having plunged to flash-crash lows on Sunday night following leaks of UK PM Theresa May's Brexit speech, cable is soaring this morning as she delivered the speech confirming that both houses of Parliament will vote on the final Brexit deal. As Bloomberg notes, U.K. PM May’s announcement that both houses of Parliament will vote on the final Brexit deal is positive for the pound as the process should ensure that extreme outcomes are avoided, analysts say. “The deal has to be good” to be approved, BofAML strategist Athanasios Vamvakidis says in e-mailed comments “Final take on this speech is that May has come ... (full story)
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