Pound Shrugs Off Johnson's Latest Brexit Setback

Wellington, (UrduPoint / Pakistan Point News - 21st Oct, 2019 ) :Sterling opened to modest losses Monday following British Prime Minister Boris Johnson's latest failure to break the Brexit deadlock, with forex markets shrugging off a weekend of drama in the British parliament.

The Currency dipped 0.5 percent to US$1.2917 when trading resumed at 1800 GMT Sunday, Bloomberg reported, holding relatively steady for a currency that has been on a rollercoaster over the past month.

It came after the House of Commons sat on Saturday to consider Johnson's EU divorce deal in a vote that was seen as a potential turning point in the long-running Brexit saga.

Instead of delivering a verdict on the deal itself, lawmakers voted to force Johnson to ask the European Union for another Brexit delay, hoping to prevent the country crashing out of the bloc on October 31 with no agreement in place.

Johnson reluctantly agreed, although the EU is yet to respond to the request and Britain's conservative government insists it is still committed to exiting by month's end.