The Pound is crawling down. Overview for 29.01.2019

Today is a decisive date for the United Kingdom and the Brexit; the Pound is feeling nervous.

The British Pound continues crawling down slowly against the USD on Tuesday. The current quote for the instrument is 1.3153. 

Today is a very important day for the country and its currency. At 3:00 PM GMT, the British Parliament starts the third vote on the Brexit agreement. Previously, the British Prime Minister Theresa May failed twice to secure the Parliament’s approval for her “soft” exiting strategy. This time, there is a hope for a more positive outcome and the key reason for this is the Labor party’s stance on the Brexit: opposite policymakers believe that leaving the European Union with the current version of the document is better than leaving without having it at all.  

However, market players aren’t too emotional, because there is a chance that the vote might fail for the third time as well. Just remember the number of policymakers who voted in favor of the document last time.  

The Brexit date, March 29th , is two calendar months away. There is no time left for creating a new agreement and discussing all nuances all over again, and the British Parliament is well aware of it. 

Most probably, the Irish border issue may be just excluded from the current version of the document: policymakers may add an article saying that they will have this issue as a high-priority task right after signing the Brexit agreement.