Breaking: GBP/USD jumps some 50 pips on reports DUP will abstain on Customs Union 2.0
|The Northern Irish DUP is said to abstain in the indicative vote on a soft version of Brexit, called Customs Union 2.0. After the Labour Party said it would support and whip it, there is an open the door to a majority. The SNP and some Conservative pro-Remain rebels will also back it, while most Tory MPs and Labour rebels will vote against it.
The vote is non-binding but could pace the way to a softer Brexit or at least a delay of the process. The government may also call a general election, and that may force a postponement of Brexit.
GBP/USD jumps to a high near 1.3150. Resistance is seen at 1.3180 and 1.3220. Support is at the round number of 1.3100.
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