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Pound Retreats as U.K. Parliament Rejects Brexit Alternatives

Pound Retreats as U.K. Parliament Rejects Brexit Alternatives

(Bloomberg) --

The pound fell as the U.K. Parliament rejected all four options that were put forward to replace Prime Minister Theresa May’s Brexit deal.

Sterling declined 0.4 percent in early Asia-Pacific trading Tuesday to $1.3048. In trading Monday, the pound had led gains among Group-of-10 currencies amid speculation that Parliament could back a motion to keep the U.K. in the European Union’s single market and a customs union.

Lawmakers are trying to find a way forward in the Brexit impasse after voting down May’s Brexit divorce plan for the third time last week.

To contact the reporter on this story: Anooja Debnath in London at adebnath@bloomberg.net

To contact the editors responsible for this story: Ven Ram at vram1@bloomberg.net, Neil Chatterjee

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