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It was another volatile session for GBP after MP’s rejected a no-deal Brexit, sending the pound broadly higher and reversing prior losses.

So, as expected, UK Prime Minister Theresa May’s Brexit deal was rejected again last night, which means another parliamentary vote will take place tonight on whether the UK should leave the EU without a deal.

Although Theresa May has secured ‘legally binding’ assurances from the EU ahead of today’s meaningful vote, implied volatility isn’t suggesting it will be a pleasant session.

Just hours away from this month’s ECB meeting, EUR/GBP is consolidating below a key zone of resistance.

After being hit by profit-taking yesterday, the US dollar was trading mixed on Wednesday morning when this report was written. The greenback was holding its own well against the euro and the pound but was down against some commodity dollars. FX market participants were looking forward to US consumer inflation data, due for release at 13:30 GMT (08:3...

With most Asian markets on holiday for the Lunar New Year celebration, Aussie traders on the sideline ahead of tonight’s monetary policy decision, and many US traders out of the office for the informal post-Super-Bowl-Monday-“Holiday,” we’ve seen a predictably slow start to this week’s trade in the FX market.

As my colleague Fawad Razaqzada noted earlier this morning, markets were relatively dull heading into the day’s marquee event, the release of UK PM Theresa May’s “Plan B” Brexit bill. Unfortunately, the “new” proposal did little to shake things up.

Much like a rollercoaster ride, this week’s Brexit developments have been full of twists and turns…but have ultimately taken us right back to where we started the week. PM May’s Brexit deal was roundly rejected on Tuesday, but the Prime Minister subsequently won Wednesday’s no confidence vote. As we head into this weekend, May is once again headed t...

As expected, Theresa May survived the vote of no confidence brought against her by the opposition. The result was tight with just 19 votes in it. The pound spiked higher reflecting the short-term stability the result brings. Full attention will turn to Theresa May’s Plan B, expected 21st January.

We’ve already written extensively about the high stakes for Tuesday’s vote on Theresa May’s Brexit bill (see here, here, and here for more), but with EUR/GBP clocking in as the weakest currency pair on the day, we also wanted to highlight key levels to watch on the second most-traded pound cross.

The debate over Theresa May’s Brexit deal is careening toward a dramatic conclusion ahead of the scheduled Parliamentary vote on Tuesday.

Another week, another round of Brexit speeches from UK PM Theresa May....