May wins Confidence Vote 200-117; cable lower as victory was not a landslide

Prime Minister May survives the Conservative Party Confidence Vote.  She was widely expected to win, but the margin was not strong enough to keep sterling bid.  The victory means she cannot be subject to another party challenge for a year, but her ability to push a soft Brexit deal through will be questioned as 117 MPs voted against her.

Cable gave up half of this morning’s gain immediately following the results.

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Ed Moya

Ed Moya

Senior Market Analyst at OANDA
With more than 20 years’ trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa. Over the course of his career, he has worked with some of the world’s leading forex brokerages and research departments including Global Forex Trading, FX Solutions and Trading Advantage. Most recently he worked with TradeTheNews.com, where he provided market analysis on economic data and corporate news. Based in New York, Ed is a regular guest on several major financial television networks including BNN, CNBC, Fox Business, and Bloomberg. He is often quoted in leading print and online publications such as the Wall Street Journal and the Washington Post. He holds a BA in Economics from Rutgers University. Follow Ed on Twitter @edjmoya ‏
Ed Moya