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.
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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.
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