- Posted by currencies in Rate Alerts
- February 21, 2019
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Sterling rose to the day’s high after British Chancellor of the Exchequer Philip Hammond said this morning the possibility of a no-deal Brexit is leading lawmakers to reconsider backing the Brexit deal.
British lawmakers could be given a vote on a revised Brexit deal as early as next week as talks with the European Union have been constructive, Hammond said.
Unless Prime Minister Theresa May can get a Brexit, deal approved by the British parliament, then she will have to decide whether to delay Brexit or thrust the world’s fifth largest economy into chaos by leaving without a deal on March 29.
When asked what would happen next week, finance minister Philip Hammond said: “There may be an opportunity to bring a vote back to the House of Commons – there may be an opportunity, but that will depend on the progress that is made in the next few days.”
The two sides were talking about giving some guarantees that the Irish border backstop could only be a “temporary arrangement”.
In the Fed Meeting last night it was mentioned that the US economy and Labour markets were strong, which could lead to a potential Interest rate rise in the summer of 2019.