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NewsBreak: Pound in Wild Ride as Brexit Timetable Voted Down

ForexOct 22, 2019 02:53PM ET
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© Reuters.

Investing.com – U.K Prime Minister Boris Johnson's hopes of getting his Brexit deal fast-tracked through parliament were dealt a blow after the government was defeated in a vote on the timetable for Brexit, although the government had earlier won a first vote on the deal legistlation to progress.

  • The government was defeated by 322 to 308 votes. The second reading vote was on whether U.K. lawmakers would allow Johnson to get his deal through the House of Commons before the end of Thursday. U.K. lawmakers had earlier voted in favor of the Withdrawal Agreement Bill, which would lead to Brexit becoming law – agreeing with it in principle.

  • Ahead of voting, Johnson had threatened to abandon the bill and instead push for general election – even if the EU grants an extension – if lawmakers failed to back his deal. But U.K legislators argued that the three-day proposal – the timetable set by Johnson to get his deal through the Commons – to scrutinize the deal was not enough.

  • Following the defeat, Johnson said he would pause the legislation and claimed "our policy remains that we should not delay, that we should leave EU on Oct. 31."

  • GBP/USD fell 0.5% to $1.2890, and was at $1.2900 just before the result of the vote. The currency spiked following the first vote that passed, but there was lots of selling into the announcemet of the results of the second vote.

NewsBreak: Pound in Wild Ride as Brexit Timetable Voted Down
 

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Klaus Weyers
Klaus Weyers Oct 23, 2019 3:14PM ET
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go and watch cnn and stop crying
Thom Miller
Thom Miller Oct 22, 2019 6:10PM ET
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This posting platform is the most biased thing I’ve ever experienced. Worse even than the NRA’s. Negative posts about Democrats and progressives are available immediately (see below). But heaven forbid you use bold and appropriate terms to say anything negative about Trump, Boris Johnson, or Israel’s BiBi, and it never sees the light of day.
michael hammer
michael hammer Oct 22, 2019 5:18PM ET
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I'm pretty sure the only deal parliament will agree to is no Brexit or referendums until the vote is remain.
Hidden Creed
Hidden Creed Oct 22, 2019 4:00PM ET
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No deal is coming
Nicholas Winch
Nicholas Winch Oct 22, 2019 3:55PM ET
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Looks like parliament is certainly not keen on representation of the people who voted for Brexit. They are like the Democrats in the United States.
Anthony Maestas
Anthony Maestas Oct 22, 2019 3:55PM ET
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Only the majority didnt vote for Trump, they voted for a Democrat, but I guess that little inconvenient truth is irrelevant right?
michael hammer
michael hammer Oct 22, 2019 3:55PM ET
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That's not how that works. The "popular vote" is a useless number. It doesn't represent the vote of the majority because of the simple fact that the majority doesn't decide that's not what decides the election. If it did, I guarantee the results would be different.
Anthony Maestas
Anthony Maestas Oct 22, 2019 3:55PM ET
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thank you for proving my point. It the "will of the people" unless its put to a popular vote, then it's a "useless number" when it doesnt take your side. I understand how the rigged electoral college works, thank you very much.
Anthony Maestas
Anthony Maestas Oct 22, 2019 3:55PM ET
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and for your information that's what a popular vote is- the POPULAR vote of who won the MOST NUMBER OF VOTES out of everyone who voted. If you're going to try and argue an opposing viewpoint, try not to confuse the issue at hand and yourself in the process.
Vince Martin
Vince Martin Oct 22, 2019 3:22PM ET
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why do you think Britain's economy will be more valuable with or without 5he EU?
owolabi adefalujo
owolabi adefalujo Oct 22, 2019 3:13PM ET
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Deal or No Deal. Pips must pay my bill on the final outcome. Price must move. Am watching seriously.
mahesh semwal
mahesh semwal Oct 22, 2019 3:03PM ET
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is there any chance for brexit deal. can any one predict
Akhil Gaur
Akhil Gaur Oct 22, 2019 3:03PM ET
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It will be a deal finally. Do not forget to remember me whatever the outcome
Herman van Drie
Herman van Drie Oct 22, 2019 3:03PM ET
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if they couldn't make a deal in 3 years, why would they do so now? Especially when EU has been giving them extensions every time, so no pressure there
Hidden Creed
Hidden Creed Oct 22, 2019 3:03PM ET
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no deal is coming...
android india
android india Oct 22, 2019 3:03PM ET
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Akhil Gaur At the last we all will die.
Vincent Cheong
Vincent Cheong Oct 22, 2019 3:01PM ET
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If not deal then GBP will fall continually?
Hidden Creed
Hidden Creed Oct 22, 2019 3:01PM ET
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It will fall initially and then rise over the next few years
Olaf Derwojed
Olaf Derwojed Oct 22, 2019 2:57PM ET
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shambles, Britain became a sideline, a client state of Europe and military lackey of US, from old hero to dying zero... any shred of old clout has come undone.Rule Britannia is over...
Attapol Suwanyoosiri
Attapol Suwanyoosiri Oct 22, 2019 2:50PM ET
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perfect!! I like this.Next chapter is brexit no deal.
Francesco De Chirico
Francesco De Chirico Oct 22, 2019 2:50PM ET
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No deal has been ruled out by law. EU will grant another extension as stated this week
George Vlad
George Vlad Oct 22, 2019 2:48PM ET
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perfect :)))) all my TPs got touched, so easy to trade fake news this week
Yudi Puspayoga
Yudi Puspayoga Oct 22, 2019 2:46PM ET
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SL hunter nice boris
 
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