Pound slips in early trading after delay on Brexit vote

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The pound fell against the dollar as the commercial currency market opened for the first time since MP backed the move to delay Brexit trading approval.

Most of the big banks in London brought in additional staff, and after sitting for 37 years in the House of Representatives on the first Saturday, they expected a volatile deal.

But the pound's reaction fell to $ 1.29 in Asian trading, which fell 0.6{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} against the dollar as foreign markets opened for a week.

The pound fell 0.4 percent against the euro.

On Friday, the pound traded near its highest level for five months against the dollar and euro.

Oanda's senior market analyst, Jeffrey Halley, said, “Despite the more twist and turn than any other drama in history, the difficult Brexit is now unlikely,” the currency decline is limited.

Pound v dollar

Deutsche Bank, like many other banks, hired additional staff on Sunday in anticipation of a strong response to Saturday's vote.

But Prime Minister Boris Johnson sent an unsigned request to the European Union as an additional delay and this time another letter signed.

Events that are serious enough to require additional manpower at normal trading hours are relatively rare in currency trading, and are usually associated with large rare events such as elections with uncertain results.

But Lascala said there have been five or six incidents since the Brexit referendum.

"Uncertainty has been going on for years. The market is begging for clarity or not being able to invest."

He said the current level of the pound is at its highest level for about five months against the dollar, said the currency market believed the Brexit negotiations had now concluded.

Currency analysts said the next strong move in the pound would be expected when the Brexit deal was voted in parliament.

But after Saturday's voting, many believe that Brexit is now less likely. Goldman Sachs, a US investment bank that provides clients with regular updates, now believes there is a Brexit possibility, down 5{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} from the previous 10{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.

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