Brexit: Labour set to whip support for Letwin amendment, raising chance main motion delayed, GBP/USD negative

Yohay Elam FXStreet

The opposition Labour party is set to whip its members to support the amendment tabled by Sir Oliver Letwin. The modification forces the government to ask for an extension to Brexit even if the Meaningful Vote passes. It requires the full legislation to pass muster.

The full support of the main opposition party raises the chances that the amendment is approved. In that case, Prime Minister Boris Johnson is set to bring the Withdrawal Bill to vote on Tuesday, October 22. On the other hand, Alistair Burt, an MP that was expelled from the Conservative Party, said he will not support the deal.

The pound may react negatively if the most-important vote is delayed. GBP/USD ended the week on a high note.

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.

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