UK can unilaterally stop Brexit

The European Court of Justice said Monday that the U.K. can cancel Brexit without asking for permission from other European Union (EU) member states.

Sterling jumped to day’s high, up about 0.12 percent to $1.2758 on the back of the news.

The decision followed the guidance given last week by a non-binding opinion to the court from a top European law officer.

CNBC

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.