(Financial Post) UK lawmakers rejected the government’s proposed Brexit timetable, but losses remained limited as chances of a no-deal exit from the European Union are now seen as miniscule.
Ahead of the votes on Tuesday – for the Brexit legislation, and then for its ratification by Oct. 31 – Prime Minister Boris Johnson had warned parliament that if it defeated him on the timetable and forced a delay until January he would abandon his attempt to ratify the deal and push for an election instead under the slogan of “Get Brexit Done.”
But Johnson’s remarks following the vote mentioned neither.
“There has been no mention of him pulling the deal, no mention of an election, so those seem to be empty threats at the moment,” said John Doyle, vice president for dealing and trading at Monex Inc.
“Obviously this has been pound-negative,” said Doyle, “but the pound is still very elevated considering where it has been over the last couple of weeks.”
