UK Labour MPs suggest they will help PM Johnson’s Brexit deal pass through Commons – Telegraph
Not only the support of the Democratic Unionist Party (DUP) and an absence of immediate rejection by the European Union (EU), the UK PM’s latest Brexit deal is also likely to gain support from the opposition Labour party’s Members of the Parliaments (MPs) to pass through the House of Commons, as per the Telegraph.
Key quotes
“The DUP has given its blessing to the plan, and it was joined by Tory rebels, hardline Brexiteers and about 25 Labour MPs, giving Mr Johnson an apparent Commons majority for his proposed agreement.”
FX implication
Although no immediate reaction could be witnessed of the news, the same might help the British Pound (GBP) to gain against majority of its counterparts as it will exert more pressure on the Irish Prime Minister (PM) Leo Varadkar to extend his support for the deal and let the departure happen on the Tory leader Boris Johnson’s pledged date of October 31.
Author
Anil Panchal
FXStreet
Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.
