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19/03/2019 – This Morning’s Exchange Rates

  • Posted by currencies in Rate Alerts
  • March 19, 2019
  • No Comments

Please find the exchange rates listed at the bottom of the article, the rates are for indication purposes only, for a live quote please contact us.

Prime Minister Theresa May’s Brexit plans are in chaos as her government sought to plot a way around the speaker of parliament’s ruling that she had to change her twice-defeated divorce deal to put it to a third vote.

After two-and-a-half years of negotiations, Britain’s departure from the European Union remains uncertain – with options including a long postponement, leaving with May’s deal, an economically disruptive exit without a deal, or even another membership referendum.

Speaker John Bercow blindsided May’s office on Monday by ruling the government could not put the same Brexit deal to another vote in parliament unless it was substantially different to the ones defeated on Jan. 15 and March 12.

Brexit Secretary Steve Barclay said the ruling meant a vote this week on May’s deal was more unlikely but said ministers were studying a way out of the impasse and indicated the government still planned a third vote on May’s deal.

The ruling from the speaker has raised the bar and I think that makes it more unlikely the vote will be this week.

May is due at an EU summit in Brussels on Thursday at which she will ask for a delay to the March 29 Brexit departure set in law as the British government tries to come up with a way to leave the European Union after 46 years of membership.

EU leaders could hold off making a final decision at that summit on any Brexit delay depending on what exactly May asks them for.

Even before Bercow’s intervention, May was scrambling to rally support for her deal – which keeps close trading ties with the EU while leaving the bloc’s formal structures – after it was defeated by 230 votes in parliament on Jan. 15, and by 149 votes on March 12.

To get her deal through parliament, May must win over at least 75 MPs – dozens of rebels in her own Conservative Party, some Labour MPs, and the Northern Irish Democratic Unionist Party (DUP), which props up her minority government.

It looks like if the UK ask the EU for a short extension to A50, the EU will only agree on a longer extension – therefore potentially increasing the chances of a second referendum.

GBP/EUR 1.1675

GBP/USD 1.3254

GBP/AED 4.8635

GBP/AUD 1.8683

GBP/CHF 1.3253

GBP/CAD 1.7657

GBP/NZD 1.9330

EUR/USD 1.1329

GBP/ZAR 19.005

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