Forex Press Releases News

Euro Is Set Back By Parliament – LiteForex

Forex Press Releases News – The UK Prime Minister continues reaching the impossible/ Boris Johnson managed to gain the support of 19 Labour PMs, which is the opposition party. Finally, the British Parliament voted 329 to 299 in favour of the general principles of the Withdrawal Agreement Bill at second reading. But minutes later the PM lost his vote 308 – 322 on the crucial timetable motion. Furious MPs had claimed they didn’t have enough time to look at the 110-page bill. It means that there is going to be a third Brexit extension past October 31 “to avoid a no deal”.

Johnson doesn’t give up. He threatens parliament with early elections, which would allow the Conservatives to strengthen their positions and adopt the document without any problems. However, there is still the risk of the Labor Party’s victory, and, in this case, all the Prime Minister’s efforts will go down the drain. The UK may face a second Brexit referendum or a soft Brexit. Investors expected the uncertainty to relieve, but it remains as strong as before. The political risk index is still close to a record high, which encourages the EUR/USD bears to go ahead.

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