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Sterling Volatility Kicks In

• Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Sterling, UK, Uncategorised
• November 12, 2018
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The British parliament will vote down Prime Minister Theresa May’s possible Brexit, so voters should be given a new referendum, May’s former education minister said this morning.

Asked if there was any chance May’s plan could pass parliament, Justine Greening, who supported staying in the European Union, said “no”.

“I think it’s the worst of all worlds,” Greening told BBC radio. “It leaves us with less influence, less controls over the rules we have to follow and … less credibility as a country in the rest of the world as they would see that we would be prepared to go for a bad deal and we shouldn’t have to do that.”

She said parliament was likely to reject “no deal” at the same time as voting against May’s proposal, and that there should be another referendum with Britons given three options: May’s deal, leaving on World Trade Organisation terms or remaining in the EU.

This little bit of news in the media has had an impact on Sterling prices, seeing it open lower than last week.