British Pound Suspended at British Parliament Vote Saturday

London (awp / afp) – The British pound stabilized on Friday against the euro and the dollar in a wait-and-see market before the British Parliament's vote on the Brexit agreement on Saturday.

Around 08:45 GMT (10:45 in Paris), the pound sterling was up 0.09% against the greenback, to 1.2903 dollar, and 0.06% against the euro, 86.24 pence for one euro.

The euro was also almost unchanged against the greenback, at $ 1.1727, after rising Thursday to $ 1.1140, its highest level in a month and a half.

Thursday, the pound had a very hectic session, taking advantage of the announcement of a deal on Brexit to climb up to 1.2990 dollar and 85.76 pence for one euro, levels seen since May.

But it then quickly erased its gains when the likelihood of the agreement being approved by Parliament became highly speculative because of opposition from several parties, eventually ending up against the dollar and stable against the euro.

"Those who bet on the pound should remain on their guard while Westminster must decide Saturday the fate of this agreement on Brexit," said Han Tan, analyst for FXTM.

According to him, the resistance of the British currency observed despite the negative reactions of many MPs is explained by "the optimism" of some investors to a possible approval.

"It is not impossible that Boris Johnson will win a victory in Parliament, but it will be tight," said Ipek Ozkardeskaya, an analyst for London Capital Group.

The agreement just published, the small party in Northern Ireland DUP, ally conservatives rejected it. The 10-member Unionist party said it was "unable to support these proposals in Parliament", particularly those concerning the customs regulations and the consent of the North Irish executive to the Brexit project.

The leader of the Labor Party, the main opposition party in the United Kingdom with 244 deputies, called on MEPs to "reject" the agreement between London and the European Union.

Favorable to the maintenance in the EU, the Scottish separatists of the SNP (35 deputies) and the Liberal-Democrats (19) also opposed a non-receipt.

        
        Friday class Thursday class

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            08:45 GMT 21:00 GMT

EUR / USD 1,1127 1,1125

EUR / JPY 120.98 120.88

EUR / CHF 1,0989 1,0991

EUR / GBP 0.8624 0.8629

USD / JPY 108.72 108.66

USD / CHF 0.9874 0.9880

GBP / USD 1.2903 1.2891

afp / lk