Pound Retreats On Doubts Over Brexit Deal Approval In Parliament
17 Oktober 2019 - 11:38AM
RTTF2
The pound eased off from its early highs against its major
counterparts in the European session on Thursday, after Northern
Irish party continued to object the Brexit deal, complicating the
chances of getting it passed by Parliament.
The support of the DUP is needed for approving the accord in
Parliament.
"These proposals are not, in our view, beneficial to the
economic well-being of Northern Ireland and they undermine the
integrity of the Union," the DUP said in a statement.
The pound retreated to 1.2757 against the greenback, from a
5-month peak of 1.2989 hit at 5:35 am ET.
Reversing from early nearly 5-month highs of 1.2893 against the
franc and 141.51 against the yen, the pound pulled back to 1.2622
and 138.66, respectively.
The pound fell to 0.8702 against the euro, off its early more
than 5-month high of 0.8574.
The pound is likely to find support around 1.24 against the
greenback, 1.24 against the franc, 134.00 against the yen and 0.88
against the euro.
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