The value of pound regains strength in the middle of Brexit case

After the parliamentary defeat of Boris Johnson, the currency of the United Kingdom increased its value again after having fallen to the lowest minimum since October 2016

The price of the pound against the dollar was revalued on Wednesday, after having fallen to its minimum since October 2016, after the parliamentary defeat of Boris Johnson. The situation became critical after a majority of British deputies voted in favor of a motion which leaves the Government without control of the parliamentary agenda, the first step to pass a law on Wednesday with which to prevent the Prime Minister from taking a Brexit to the country without agreement on October 31.

The crossing between the pound and the dollar was $ 1,2129 before the opening of European markets, compared to 1,2084 as of yesterday’s close. Thus, the British currency revalued 1.4% over the three-year low of $ 1.1957 recorded during Wednesday’s session.

Parliamentarians against the line set by Boris Johnson plan to present a law that limits the prime minister’s margin of action. The Government would be obliged to request an extension of Brexit, until January 31, if it fails to ratify any pact with the EU before October 19 or a specific permission from Parliament for an exit without agreement.

In case of losing the vote on Wednesday, something that seems likely in view of the results of the emergency debate held on Tuesday, Johnson plans to present an initiative to call early elections in mid-October.

K. Tovar

Source: dpa

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