Forex - Pound Slips as U.K Lawmakers Reject Amendment to Extend Brexit Deadline - Investing.com UK

Investing.com - U.K. lawmakers on Tuesday rejected an amendment to extend the deadline for the UK to leave the European Union.

Labour MP Yvette Cooper's amendment, which sought to extend Article 50 if MPs fail to approve the Withdrawal Agreement by Feb. 26, was voted down.

At 21:30 GMT, fell 0.72% to $1.3067.

The series of amendments to the Withdrawal Deal focused on resolving the Irish backstop issue and ensuring Britain does not leave the EU without a deal.

The Spelman 'no-deal Amendment', put forward by Conservative lawmaker Caroline Spelman, seeks to ensure the UK will not leave the EU without a deal. MPs voted in support of the Spelman amendment with 318 votes to 310, a margin of 8. The amendment is advisory and has no legislative force.

U.K. lawmakers voted in favour of the Brady Amendment, tabled by Conservative lawmaker and leader of the 1922 Committee, Graham Brady. The amendment was tabled to make May's Withdrawal Agreement more appealing to pro-Brexit MPs and called for the Irish backstop to replaced with "alternative arrangements".

Parliament voted voted in favour of the Brady Amendment with 317 votes to 301, a majority of 16.

Theresa May will now head to Brussels and seek to persuade EU lawmakers to consider amendments to the Withdrawal Deal, specifically the Irish backstop. The EU, however, has been reluctant to reopen the withdrawal deal, which suffered on of the biggest defeats in U.K. parliamentary history on Jan. 15.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read Again Forex - Pound Slips as U.K Lawmakers Reject Amendment to Extend Brexit Deadline - Investing.com UK : http://bit.ly/2GbjWws

Let's block ads! (Why?)