May Overcomes First Repeal Bill Hurdle

Britain’s parliament backed a second reading of legislation to sever ties with the European Union early on Tuesday, a reprieve for Prime Minister Theresa May who now faces demands by lawmakers for concessions before it becomes law.After more than 13 hours of speeches for and against the legislation, which May says is essential for Brexit but critics describe as a Conservative government power grab, lawmakers voted 326 to 290 in favour of moving the EU withdrawal bill, or repeal bill, to the next stage of a lengthy lawmaking process.Many fell in step with the government which said a vote against the legislation would force Britain into a chaotic exit from the EU, rather than a smooth departure, as the country would lack laws and a regulatory framework to steer the process.

Source: Brexit law passes hurdle in reprieve for May

A Big Sigh of Relief

Dollar Gains Tentative Traction

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

Latest posts by Craig Erlam (see all)