– UK PM Theresa Could’s EU-UK Withdrawal Settlement has been defeated once more, this time by a margin of 286 votes in favor to 344 in opposition to.
– European Council President Donald Tusk has referred to as for an emergency Brexit summit on April 10; the UK is ready for a no deal, ‘onerous Brexit’ on April 12.
– GBPUSD dropped beneath 1.3000 for the primary time since March 11.
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UK PM Theresa Could’s EU-UK Withdrawal Settlement has been defeated once more, this time by a margin of 286 votes in favor to 344 in opposition to. The third failed vote now places the prime minister within the uneasy place of feeling immense stress to resign.
After reaching an settlement with the European Fee to increase the Brexit deadline to April 12, the failure of the third vote signifies that a no deal, ‘onerous Brexit’ is feasible in two weeks time. European Fee President Donald Tusk has referred to as for an emergency summit on April 10 in hopes to keep away from the worst case state of affairs.
GBPUSD Value Chart: 1-minute Timeframe (Intraday March 27 to 29, 2019) (Chart 1)
Following the information of the vote failing, GBPUSD instantly dropped from close to 1.3065 to as little as 1.2984. On the time this report was written, GBPUSD had recovered to 1.3001.
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— Written by Christopher Vecchio, CFA, Senior Forex Strategist
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