UK Labour’s McDonnell: Will use every mechanism we can to stop no-deal Brexit

Eren Sengezer FXStreet

The UK’s opposition Labour Party’s Finance policy Chief and the second most powerful man, John McDonnell, crossed the wires in the last minutes saying that they will use every mechanism they can to stop a no-deal Brexit, per Reuters.

"We are still open to calling a vote of no-confidence," McDonnell added.

Although the Labour Party's commitment to block a no-deal Brexit is nothing new, the British pound seems to be gathering strength on these comments. As of writing, the GBP/USD pair was up 0.08% on the day at 1.2218.

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Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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