Pound Rallies as May Agrees to Let Lawmakers Debate Brexit Plan
- Sterling had weakened this month on ‘hard Brexit’ concern
- Pound gains the most versus its U.S. counterpart since Sept. 6
Weak Pound May Drive New U.K. Investments, Says Sartori
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The pound posted its biggest gain versus the dollar in a month after Prime Minister Theresa May accepted that Parliament should be allowed a say on her plan for taking Britain out of the European Union.
While sterling strengthened against most of its 31 major peers, the U.K. currency pared its advance after May clarified her position in a weekly question session in Parliament. She sidestepped calls to guarantee lawmakers a vote on the Brexit plans, saying officials would “have every opportunity to debate this issue.”