Pound Falls After Bercow Decision

GBP

Sterling fell back from a six month-high against the dollar yesterday, after House of Commons Speaker John Bercow refused to let the government put its deal to Parliament for the second time in three days.

The pound had risen earlier in the session after the Democratic Unionist Party (DUP) said it would not try to amend the Brexit deal, which could have frustrated its passage. Sterling then retraced after Bercow rejected the government’s request for a meaningful vote on the Brexit deal. He dismissed arguments that the situation has changed now Johnson has sent a Brexit delay letter to the EU.

Bercow pointed out that Johnson’s motion today was “in substance the same” as that considered by Parliament on Saturday. Holding a second vote on the deal today would prove “repetitive and disorderly”, he said.

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