The U.K. Parliament passed a Brexit delay bill late Wednesday and Prime Minister Boris Johnson called on U.K. lawmakers to back his plan to hold a snap election on Oct. 15.
The House of Commons passed a bill to delay the exit of the U.K. from the European Union 327 to 299.
As rebel/opposition lawmakers continue to inflict defeat upon Boris Johnson, the bill to avoid a no-deal Brexit (delay until 31 January 2020) will now head over to the House of Lords for debate today and possibly over the next few days.
The issue here is that lawmakers on the other side could filibuster (unending debate on the matter) the bill up until parliament is prorogued next week and the bill fails to gain royal assent to be turned into law.
As it stands, pro-Brexit lawmakers have tabled over 100 amendments to try and filibuster the bill in order to delay proceedings long enough for parliament to be prorogued.
However, there are peers who are also debating a business motion to try and ensure all stages of the bill are finished by 1800 GMT on Friday. We'll have to see how things pan out later this morning and, in the afternoon, to get more of a sense of where this is headed.
Johnson said the bill destroys the ability of the government to negotiate with the EU.
GBP/USD rose 1.12% to 1.2219.
#Brexit #trade #trading #invest #news #Forex #Pound #Dollar #currency
Disclaimer: Analysis and opinions provided herein are intended solely for informational and educational purposes and don't represent a recommendation or investment advice by TeleTrade. Indiscriminate reliance on illustrative or informational materials may lead to losses.
Risk Warning: Trading Forex and CFDs on margin carries a high level of risk and may not be suitable for all investors. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.42% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Prior to trading, you should take into consideration your level of experience and financial situation. TeleTrade strives to provide you with all the necessary information and protective measures, but, if the risks seem still unclear to you, please seek independent advice.
© 2011-2021 Teletrade-DJ International Consulting Ltd
Teletrade-DJ International Consulting Ltd is registered as a Cyprus Investment Firm (CIF) under registration number HE272810 and is licensed by the Cyprus Securities and Exchange Commission (CySEC) under license number 158/11.
The company operates in accordance with Markets in Financial Instruments Directive (MiFID).
The content on this website is for information purposes only. All the services and information provided have been obtained from sources deemed to be reliable. Telerade-DJ International Consulting Ltd ("TeleTrade") and/or any third-party information providers provide the services and information without warranty of any kind. By using this information and services you agree that under no circumstances shall TeleTrade have any liability to any person or entity for any loss or damage in whole or part caused by reliance on such information and services.
TeleTrade cooperates exclusively with regulated financial institutions for the safekeeping of clients' funds. Please see the entire list of banks and payment service providers entrusted with the handling of clients' funds.
Telerade-DJ International Consulting Ltd currently provides its services on a cross-border basis, within EEA states (except Belgium) under the MiFID passporting regime, and in selected 3rd countries. TeleTrade does not provide its services to residents or nationals of the USA.