UK Labor Party proposes option of second Brexit referendum

Dhwani Mehta FXStreet

Reuters reports the latest update on the Brexit issue, citing that the UK opposition party, the Labor Party, proposes the option of a second Brexit referendum.

Additional Details (via The Telegraph):

“Jeremy Corbyn has endorsed a plan to force a second EU referendum as he bowed to pressure from Labour party members and MPs.

Mr. Corbyn wants the Government to give MPs the final say next week on a second referendum.

If a majority back a referendum, Parliament could force Theresa May to hold a new in/out the public vote that could lead to Brexit being reversed.”

Meanwhile, the GBP/USD pair trades better bid just shy of the 1.29 handle, as markets digest the UK PM May’s Plan B.

Key Notes:

UK shares soak up Chinese data and Plan B Brexit; FTSE ended +0.03%

UK PM May: Looking forward to seeing Poland's proposal for time limit on backstop

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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