British pound surges in Asia in wake of Brexit vote
[SYDNEY] Sterling jumped in wild Asian trading on Thursday as markets priced in less risk of a disorderly exit from the European Union after Parliament rejected leaving without a deal.
The pound traded as high as US$1.3380, levels last seen in June 2018 and up from a low of US$1.3064 on Wednesday. The euro was quoted at around 84.725 pence, its lowest since mid-2017.
While the political situation was extremely fluid, dealers said investors were assuming the votes made a "no deal" Brexit less likely and that was cause for relief.
British lawmakers on Wednesday rejected leaving the European Union without a deal in any scenario, paving the way for a vote to delay Brexit to seek a way out of the country's worst political crisis in generations.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Money laundering accused Su Baolin to plead guilty after being handed 3 more charges
UBS flags 'serious' concern about new Swiss capital requirements
Lloyds bank says quarterly profits sink on higher costs
US seeks 36 months’ jail for Binance founder Zhao
Hong Kong bourse operator’s Q1 profit down 13% on weaker listings, trading
PBOC steps up rhetoric against long-end government bond rally