Breaking: Johnson's Brexit passes first hurdle, GBP/USD rises, second voting coming
The government won has won the second reading of the WAB by a wide majority of 30 MPs – 329 to 299. The broad majority raises the chances that Johnson will also win the second vote. The Democratic Unionist Party (DUP) is set to vote against it. The second vote is on rushing the debate within three days.
GBP/USD is rising toward the daily highs of 1.2989. The second vote begins.
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According to number crunchers in various media outlets, Prime Minister Boris Johnson was able to muster support for the Withdrawal Act Bill (WAB) in its first vote. However, the PM seemed to struggle to convince enough MPs to support the program motion.
That second vote forces the House of Commons to debate the deal at a breakneck speed of three days. The government hinted it may call off the next stages of the debate and opt for elections if the second motion is rejected.
See Three scenarios for today's two critical Brexit votes
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
