FX.co ★ Pound strengthens after Brexit vote

The British Prime Minister Theresa May's attempt to push through her plan on the country's exit from the EU failed. May’s proposed Brexit deal was rejected by a majority of British parliamentarians. Moreover, the Labour party tabled a motion of no-confidence in the current UK government. However, lawmakers in the lower house of parliament, the House of Commons, voted to defeat it.

The national currency remained stable during the opposition of the parliament and the government and began to strengthen immediately after the vote. The pound/dollar pair rose from the level of 1.2697 pounds per dollar, observed just before the vote, to the level of 1.2862. The euro/pound pair fell from 0.8968 to 0.8878 euros per pound.