Brexit: Hardliner Steve Baker announced his support – chances to pass are rising


Steve Baker, one of the staunch Brexiteers and part of the European Research Group (ERG) in the Conservative Party, has announced he will vote for the Brexit deal. His support may convince other "Spartans" to back Prime Minister Boris Johnson.

Support from the ERG comes despite a rejection from the Democratic Unionist Party (DUP). The small Northern Irish party rejects the accord reached with the EU due to the customs on the Irish Sea and a new consent mechanism that strips them from their veto.

The PM has been working hard to convince MPs from both his party and the opposition Labour Party.

The vote may be complicated by an amendment that will be tabled by Sir Oliver Letwin.

GBP/USD closed the trading week at 1.2973, closer to the peak of 1.2989 when the accord was announced. A Sunday gap is all but certain, regardless of the outcome.

See: Brexit: Four scenarios and GBP/USD reactions as the deal reaches parliament

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

AUD/USD pressures as Fed officials hold firm on rate policy

AUD/USD pressures as Fed officials hold firm on rate policy

The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.

AUD/USD News

EUR/USD extends its downside below 1.0650 on hawkish Fed remarks

EUR/USD extends its downside below 1.0650 on hawkish Fed remarks

The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.

EUR/USD News

Gold price edges higher on risk-off mood hawkish Fed signals

Gold price edges higher on risk-off mood hawkish Fed signals

Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.

Gold News

Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’

Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’

Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.   

Read more

Is the Biden administration trying to destroy the Dollar?

Is the Biden administration trying to destroy the Dollar?

Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.

Read more

Forex MAJORS

Cryptocurrencies

Signatures