The pound rose on Friday but was struggling to claw back its latest losses after the EU gave Britain a Brexit deadline extension.
The sterling has come under pressure owing to the uncertainty in the past few days, falling to as low as $1.3004 on Thursday., while equity markets were boosted by a positive lead from Wall Street.a fractious parliament next week. If she manages to get it passed, the exit date will be pushed back until May 22.would mean Britain crashes out on April 12, unless London agrees to take part in European elections, a move the prime minister previously has ruled out.
The announcement puts pressure on May to get her deal through Westminster, with French President Emmanuel Macron warning:"In the case of a negative British vote then we'd be heading to a no-deal." The sterling has come under pressure owing to the uncertainty in the past few days, falling to as low as $1.3004 on Thursday, though it has recovered slightly and is still maintaining its position, helped by this week's dovish outlook on interest rates from the Federal Reserve.However, OANDA senior market analyst Jeffrey Halley remained wary.
"The investor community continues to price the pound as if a no-deal Brexit is not possible, looking for excuses to buy rather than sell," he said in a note.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pound up but still faces pressure after Brexit delay deal - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Bank of England on Thursday expressed concern that further 'uncertainties' over a 'cliff-edge' no-deal Brexit 'could have a significant effect on spending' by businesses.
Read more »
Rand weakens to the pound after Brexit extensionThe EU has agreed to an extension of the Brexit deadline to mid-April, a move that benefits sterling
Read more »
BREXIT WRANGLES: SA and its neighbours fail to clinch a post-Brexit trade deal with UKBREXIT WRANGLES: SA and its neighbours fail to clinch a post-Brexit trade deal with UK By Peter Fabricius Pfabric
Read more »
Newsdeck: May Asks EU for Brexit Extension Until June 30: Brexit UpdatePrime Minister Theresa May has asked the European Union for an extension to the Brexit deadline until June 30, she told lawmakers in the House of Commons, after pro-Brexit ministers objected to being stuck in the bloc for much longer. It increases the chances that the U.K. could crash out of the bloc at the end of June, and could make for a tense meeting with European leaders on Thursday.
Read more »
Sterling plunges as fears rise of no-deal BrexitThe pound tumbles 1.3% — its biggest daily drop since December 2018
Read more »
UK PM May will work tirelessly for Brexit deal -spokeswoman'She's been working tirelessly to deliver a deal and she will continue to do that,' the spokeswoman said.
Read more »
Brexit in crisis as PM May plots a course around speaker's obstructionAfter two-and-a-half years of negotiations, Britain's departure from the European Union remains uncertain
Read more »
May could win backing of Northern Irish kingmakers in third Brexit votePrime Minister Theresa May's hopes of getting a Brexit divorce deal through parliament were given a boost on Saturday.
Read more »
EU readies short Brexit delay - if May wins parliament overNearly three years after Britons narrowly voted in a referendum to leave the EU, May has been unable to unite her divided cabinet, parliament or nation behind her exit plan.
Read more »
May gets two-week Brexit reprieve from impatient EUPrime Minister Theresa May had wanted to be able to delay Britain’s departure until 30 June to tie up legislative loose ends.
Read more »