Pound shrugs off Johnson's latest Brexit setback

Sterling opened to modest losses Monday following British Prime Minister Boris Johnson's latest failure to break the Brexit deadlock, with forex markets shrugging off a weekend of drama in the British parliament. Instead of delivering a verdict on the deal itself, lawmakers voted to force Johnson to ask the European Union for another Brexit delay, hoping to prevent the country crashing out of the bloc on October 31 with no agreement in place. It meant that instead of decisive developments over the weekend, the market was still waiting to see how the situation would play out, Rodrigo Catril, a senior forex strategist at National Australia Bank said.

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