The ERG had previously been critical of May and were instrumental in forcing an unsuccessful leadership challenge against her in December. Parliament will vote on May’s deal on Tuesday, following a day of deliberation and votes on amendments. The vote was initially meant to take place in December but was postponed as May was expected to lose. Passing her deal would ensure a so-called soft Brexit from the European Union in March. Sterling shot up to a high of $1.2931 on the back of the report, its highest since mid-November, but has since drawn back slightly. One pound last bought $1.2885, up from $1.2839 late Friday. The euro EURGBP, -0.1903% was down 0.3% against the pound, buying £0.8900.
The Invesco CurrencyShares British Pound Sterling Trust (FXB) was trading at $125.02 per share on Monday morning, up $0.44 (+0.35%). Year-to-date, FXB has declined -4.71%, versus a -3.03% rise in the benchmark S&P 500 index during the same period.
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