Sterling slips from five-month high after Brexit plan hits snag

Sterling fell over half a percent against the dollar on Monday, slipping from fi...

SYDNEY - Sterling fell over half a percent against the dollar on Monday, slipping from five-month highs after the British parliament delayed a crucial vote on a Brexit withdrawal agreement.

Lawmakers on Saturday voted to withhold a decision on Johnson’s deal, a move that forced him to seek from the EU a third postponement of Britain’s departure from the bloc. Britain’s exit had been envisaged for Oct. 31. “The weekend’s events, if anything, have further reduced the risk of disorderly exit,” said Adam Cole, chief currency strategist at RBC Capital Markets in London.

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