The pound is holding up ahead of the no-deal Brexit vote later today
Despite May's defeat in the second meaningful vote yesterday, the pound is holding steady with cable lurking near the 1.3100 handle as we start to prepare for a vote on a no-deal Brexit later this evening. As it stands, markets are anticipating that we're headed towards a Brexit extension in the coming days/weeks, so that is still helping to support the quid ahead of the London open today.
Meanwhile, the aussie and kiwi are weighed lower on softer risk sentiment but also the fact that yields fell following weak confidence data earlier.
Other major currencies remain more mixed against the dollar with little movement of note. If you want an idea of how sluggish trading has been to start the day, EUR/USD only sits in a 7 pips range thus far - between 1.1283 and 1.1290.
Looking ahead, Brexit headlines are likely to occupy much of the European morning but they shouldn't be as impactful as what we have seen yesterday.
