Friday, 22 October 2021

British Pound falls after MPs delay key Brexit vote

File Photo

LONDON: The British pound fell against the dollar after currency markets opened in Asia early, following a delay to a crucial Brexit vote and a new request to extend the deadline from October 31.

The currency opened down 0.6% at $1.2915, after closing just below $1.30 mark, according to Reuters. Within an hour of trade it had trimmed losses to trade 0.3% lower.

The shift came after on Saturday UK Prime Minister Boris Johnson was forced to ask for a Brexit delay by a cross-party group of politicians who voted to postpone the “meaningful vote” on his new deal. Johnson asked for an extension to the deadline late on Saturday night, yet added two letters saying that the demand came from the Parliament, not the British government.

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