The British pound showed a clear recovery on Tuesday afternoon during British Prime Minister May’s speech on the progress of her Brexit deal, but the recovery was short-lived.
May said she would like to give MPs a chance to vote on a second Brexit referendum as soon as the UK parliament approves its Brexit deal.
She also emphasized that there is no deal with Labor yet, but progress has been made. May further indicated that this is the “last chance” to turn the green light on for her Brexit deal.
At around 7 p.m., the British pound was still close to the dollar to a level of $ 1,281 after British opposition leader Jeremy Corbyn of Labor said he did not support the new Brexit plans.
In recent weeks, the British pound came under severe pressure, including after Brexit negotiations between Labor and May broke down.