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NewsBreak: UK Parliament Amendment Vote Ends Hope for Brexit Deal This Weekend

EconomyOct 19, 2019 10:33AM ET
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© Reuters.

Investing.com - Members of Parliament voted to approve the Letwin amendment to Prime Minister Boris Johnson's Brexit deal on Saturday, which forces Johnson to seek another Brexit extension. That ends the Brexit deal hoped for the goverment for this weekend.

Members of the government left the House of Commons following the result of the vote as they no longer intend to participate in the vote on Boris Johnson's Brexit deal.

The Letwin amendment passed with 322 votes in favor and 306 against, giving the amendment a majority of 16. The amendment withholds approval of Johnson's deal until the legislation to enact it is passed.

Boris Johnson took to his feet following the vote saying: "the meaningful vote is now devoid of meaning". The government will bring the deal back to parliament on Monday.

Johnson is required by law to request an extension beyond the Oct. 31 date from the European Union, however he suggested in the House that he would not negotiate a delay with the EU, saying: "I will not negotiate a delay with the EU and neither does the law compel me to do so."

According to ITV's Paul Brand the PM will tell the EU to reject Parliament's request for a delay. Brand wrote on Twitter: "BREAKING: No 10 source “Parliament has voted to delay brexit yet again. The PM will not ask for an extension - he will tell EU leaders there should be no delays, they should reject Parliament's letter asking for a delay, and we should get Brexit done on 31 October”.

NewsBreak: UK Parliament Amendment Vote Ends Hope for Brexit Deal This Weekend
 

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andor kovács
andor kovács Oct 20, 2019 11:04AM ET
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gbpjpy is up. now for one week 1000 pip. 146 is the top
Jesper Olsen
Jesper Olsen Oct 19, 2019 9:00PM ET
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what happen to EUR/USD?
Low Patrick
Low Patrick Oct 19, 2019 9:00PM ET
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drop
andor kovács
andor kovács Oct 19, 2019 9:00PM ET
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bro nothing
Jim Gregory
Jim Gregory Oct 19, 2019 5:24PM ET
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what about gold and silver?
andor kovács
andor kovács Oct 19, 2019 5:24PM ET
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gold up
Shabbir Ahmed
Shabbir Ahmed Oct 19, 2019 3:51PM ET
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hey..what will be the impact on EURUSD. weather it will move up or down??
Low Patrick
Low Patrick Oct 19, 2019 3:51PM ET
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down of course
Ron Warren
Ron Warren Oct 19, 2019 3:19PM ET
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U.S. Hedge Funds are gonna' burn!!! Hope no one is counting on a pension!
Nnakwe Uka
Nnakwe Uka Oct 19, 2019 2:49PM ET
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Sure the volatility on gbp crosses will be impressing
Al Vlaj
alvlaj Oct 19, 2019 2:44PM ET
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There should never have been a referendum in the first place. Voters in the UK are as ignorant as voters in the US these days. The experiment of democracy has failed.
michael hammer
michael hammer Oct 19, 2019 2:44PM ET
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Oh won't a heavy handed dictator come save the UK from freedom.
Al Vlaj
alvlaj Oct 19, 2019 2:44PM ET
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michael hammerNope. Anarchy.
Gerald Hwee
Gerald Hwee Oct 19, 2019 2:43PM ET
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definite fall, there could be surprises, we'll see
michael hammer
michael hammer Oct 19, 2019 2:39PM ET
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Cool. Let's keep forcing more referendums until they vote the right way this time!
Emmanuel Abdul
Emmanuel Abdul Oct 19, 2019 2:19PM ET
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what will happen to the GBP?
Low Patrick
Low Patrick Oct 19, 2019 2:19PM ET
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collapse
andor kovács
andor kovács Oct 19, 2019 2:19PM ET
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yes thats true. last week 1000 pip gbpjpy. this is my favoruite devisas
dim dim
dim dim Oct 19, 2019 2:10PM ET
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... a further proof that we are in the era of political charlatans, .political people with no personality, seriousness, knowledge... in the case (of BREXIT) putting their citizens, through a referendum to decide,  .*(referendum the largest expression of democracy)*, .and... if the result from the referendum not like to politicians charlatans, .ie, see GREECE, after GREAT BRITAIN... and draw conclusions... today we were probably talking about of politicals  .'Democrats'  dictatorships !!!.*** see the old, 'Communist' - Socialist Union of Soviet Republics'  .exactly the same case !!!
Leon Akavalos
Leon Akavalos Oct 19, 2019 1:35PM ET
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He suggested ?!?!? Or He clearly stated ! Lol
Matthew Lim
SilkRdEconomist Oct 19, 2019 1:32PM ET
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so gold becomes the hedge again?
Jason Yost
Jason Yost Oct 19, 2019 1:18PM ET
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They aren't leaving the EU watch. This ****will get delayed forever.
Chris Sundo
Chris Sundo Oct 19, 2019 1:18PM ET
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just like the GREEK BAILOUT,  or like the CHINA tariffs (F1~Factor 1), now we have BREXIT (F2) to cause volatility ... Don't we love this market?  LOL
TA XVCI
TA XVCI Oct 19, 2019 1:18PM ET
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Recession on its way
Wai Chong
Wai Chong Oct 19, 2019 1:17PM ET
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Extension is a way of playing the game, if you don't get the vote you want, you play the game of delaying.
sasikiran mekathoti
sasikiran mekathoti Oct 19, 2019 1:02PM ET
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worlds biggest commedy brexit story so many primineter changed blody politics at Britain
Attapol Suwanyoosiri
Attapol Suwanyoosiri Oct 19, 2019 1:00PM ET
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many people love brexit no deal more.
Harsh Ranjan
Harsh Ranjan Oct 19, 2019 12:52PM ET
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it will go again 1.19 level hahaha ... gbp ****** all buyers
Low Patrick
Low Patrick Oct 19, 2019 12:52PM ET
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will gbp collapse to 1.10?
Chris Sundo
Chris Sundo Oct 19, 2019 12:43PM ET
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I was wondering, about the "Stock Indices Futures - Investing.com" screen of this site, where the heading says "Real-Time Stock Indices Futures", WHY DOES THE LAST COLUMN HEADING say "Time" when all it shows is an outdated date "18/10"?  "18/10" is clearly not about time but means the 18th of October, and that was in the past! So how can it be 'real-time' if the timestamp is in the past? ---- Your fees to Investing.com are not well spent
Jan Buyle
Jan Buyle Oct 19, 2019 12:39PM ET
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There is no better comedy than Brittish politics... lol...
Matthew Lim
SilkRdEconomist Oct 19, 2019 12:39PM ET
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splitting image is nice brit comedy
Al Vlaj
alvlaj Oct 19, 2019 12:39PM ET
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Try watching the antics of the bafoon in the White House for a while.
Charles Brooks
charliefornia Oct 19, 2019 12:37PM ET
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anyone who thinks gbp is going up next week is going to be very upset. hope you guys closed out your gbp buy orders Friday.
Low Patrick
Low Patrick Oct 19, 2019 12:37PM ET
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it will gap down... SL is useless
Stephen Wong
Stephen Wong Oct 19, 2019 12:30PM ET
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Does it mean falling GBP?
Willermo Dolo
Chucky Oct 19, 2019 12:30PM ET
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absolutely
Strela Fxxx
Strela Fxxx Oct 19, 2019 12:30PM ET
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gbp-usd 1.20
Low Patrick
Low Patrick Oct 19, 2019 12:30PM ET
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many account will be wiped out..
Matthew Terry
Matthew Terry Oct 19, 2019 12:05PM ET
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Goes to show you sticking to your guns is the way to go. Sold calls one FXB and will be time to cash in next week.
Walter Morawa
Walter Morawa Oct 19, 2019 12:05PM ET
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it's hard to tell if this is all bad news. certainly the market partially priced in a deal this weekend so I would expect this to be negative, but the deal could still pass by the 31st. I would say first level of support is 1.28, then 1.26 is next.
Low Patrick
Low Patrick Oct 19, 2019 12:05PM ET
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deal priced in already.. now no deal it will go back to before
Chris Sundo
Chris Sundo Oct 19, 2019 12:01PM ET
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Any rejection IMHO would mean that the rejectors feel that the conditions are not yet right, in all respects to seal a steady move forward for all of the UK. They simply need more time to re-arrange the footing, solidify the base, work-up the top-ends, let the dominoes fall as they may. It's not a bad situation. It's an exercise in democracy and that's a good thing. --- See Standard Chartered Corporation (insurance biz), they opened a branch in Frankfurt for their non-UK biz, thereby moved a fraction of their labor and infrastructure assets outside of the UK, thus reducing the UK's GDP. --- There is a give and a take. --- It's like divorce: a divorce of attachments from pre-existing connections. It takes time, and the slow-moving British Parliament can't adapt that quickly. --- The following link is a good read: https://www.bloomberg.com/news/articles/2019-10-19/u-k-lawmakers-vote-to-delay-decision-on-johnson-s-brexit-deal?srnd=premium
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