Pound Falls After U.K. Lawmakers Reject Plan to Delay Brexit

The currency held its losses as lawmakers subsequently approved the Brady amendment that seeks changes to the Irish backstop arrangement in the Brexit deal. Prime Minister Theresa May had backed the Brady plan herself as a way to demonstrate to Brussels that changes to the backstop would allow the Brexit deal to be approved. “The positive is that May has found a majority for some sort of Brexit,” said Danske Bank A/S analyst Mikael Olai Milhoj.

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