LONDON (Reuters) – Sterling gained in early London trading on Wednesday, as investors gave a cautious welcome to British lawmakers success in seizing control of parliamentary time to try and block a no-deal Brexit.
Sterling, which on Tuesday fell below $1.20 and to its weakest in three-years, rose 0.4% to the day’s high of $1.2129 .
Against the euro it rallied 0.3% to 90.53 pence ().
Lawmakers who defeated Prime Minister Boris Johnson’s government late on Tuesday are expected to introduce a bill in parliament on Wednesday seeking to stop Britain from leaving the European Union on Oct. 31 without transitional arrangements.
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