The pound held its ground Wednesday and London's FTSE opened higher after the record defeat of British Prime Minister Theresa May's Brexit plan, as investors consider the nextdevelopments in the long-running saga.
Sterling tanked to a near two-year low soon after the government's proposal on leaving the European Union was soundly beaten Tuesday evening,but it soon bounced back as traders bet there would not be a "no-deal" exit.
And while it was slightly lower in Asia, the pound managed to avoid the sort of pummelling many had predicted, and analysts say the positive news is that the options for the future are narrowing.
-AFP, Hong Kong
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