Sterling dips below $1.3 as Brexit showdown looms

Sterling hits three-week low on reports May likely to change Brexit vote

LONDON - Sterling dipped on Monday in choppy trade as investors braced for parliamentary votes on Prime Minister Theresa Brexit’s deal that could decide on what terms - if at all - Britain leaves the EU in less than three weeks.

As a result, in a vote on Tuesday evening lawmakers are expected to reject for a second time the withdrawal agreement May negotiated with Brussels last year. “A delay to Brexit would be modestly positive for sterling, reflecting the reduction of the risk of hard Brexit,” said Kallum Pickering, an economist at Berenberg.

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