The British pound traded lower on Monday in the aftermath of the Withdrawal Agreement vote which saw MPs approve Prime Minister Boris Johnson’s plan for the United Kingdom’s departure from the European Union. The planned withdrawal may put in danger England’s union with Scotland, which previously voted to remain in the bloc. The United Kingdom Parliament voted in favor of Prime Minister Boris Johnson’s European Union Withdrawal Agreement Bill (WAB) at its second reading as 358 MPs backed the bill, while 234 lawmakers opposed it.
The latest Brexit bill was published on Thursday and, unlike earlier versions, it rules out any potential extension of the transition period beyond December 2020.
The WAB will now move to the committee stage, followed by the so-called report stage and will then be brought to the Commons for a third reading and a final vote before it is handed over to the House of Lords. The bill will have to be passed into law by the UK before January 29 in order to allow the EU to ratify the Brexit agreement before Britain’s deadline to exit the bloc on January 31. The sterling was down 0.62% against the euro at 8:06 am ET to sell for 1.16678. A minute later, the pound fell 0.65% to change hands for $1.29206. Nick Note: About the dumbest shit i have ever seen. The WORST negotiation ever but the dumbest negotiators….. Talk about giving away the keys to the kingdom… at least what little their is left of it!. For the record. I believe Scotland will be out of the English Commonwealth way before England untangles itself and gets out of the German clutches of the European Union…..