British Pound jumps on possible Brexit delay

By MoneyWay | Feb 26, 2019

Theresa May is considering a plan to delay Brexit and stop the U.K. leaving the European Union with no deal next month, according to people familiar with the situation.The prime minister is expected to allow her Cabinet to discuss extending the deadline beyond March 29 at a crunch meeting on Tuesday, one of the people said. She would then reveal the Cabinet’s conclusions in an announcement to Parliament later in the day.

The pound strengthened. Investors and businesses want to avoid a crash-out exit and most welcome more time to prepare, or even to rethink the divorce.

Currently             Close                     Range

USDCAD               1.3187                   1.3187                   1.3178-1.3236

EURCAD               1.4995                   1.4977                   1.4975-1.5047

GBPCAD               1.7470                   1.7270                   1.7270-1.7519

                                                                                                Prior                      Actual

US: Housing Starts December                                     1.214M                 1.078M

       House Price Index December                              0.4%                      0.3%

       S&P Home Price Index December                     0.3%                      0.2%

       Consumer Confidence February                        121.7                     131.4

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