MPs voted down no-deal Brexit in any conditions, pound soars 9-month high


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MPs voted down no-deal Brexit in any conditions, pound soars 9-month high

On Wednesday, the 13th of March 2019, the UK lawmakers had rejected a no-deal Brexit scenario, cementing the way to delay the Brexit and to find a way out of the nation’s worst political gridlock in generations. Later on, Wednesday (March 13th), the UK MPs voted down a no-deal Brexit option in any circumstances, proffering a breathing space for UK businesses which had been shifting their assets outside the UK in the fear of a no-deal Brexit, which would eventually prevent UK companies to conduct business with other eurozone nations.

After two and a half years of negotiations, alongside two Brexit defeat of UK PM May’s amended Brexit proposal, UK businesses had welcomed the House of Common’s decision to avert a no-deal Brexit catastrophe, as the British currency had risen to 9-month high following the vote on Wednesday and the London stocks seemed mostly optimistic despite a currency dependent stock exchange and a closure in the red.

As aforementioned, following the reveal of the news of averting a no-deal disaster, the British currency space-dived, surging to a nine-month high of $1.3380, with a record intra-day gain of more than 2 percent, which had also opened up an opportune moment to break potential levels and to reach $1.35-1.36 levels in a near-term outlook.