Pound rebounds as Johnson’s Parliament defeat dims no-deal risk

Britain's Prime Minister Boris Johnson speaks after the announcement of the result of the vote in in the Parliament in London, Britain, Spetember 3, 2019. - Reuters

LONDON: The pound gained after UK Prime Minister Boris Johnson lost a crucial vote in Parliament late Tuesday, reducing the risk of a no-deal Brexit on Oct. 31.

Sterling rallied versus most of its Group-of-10 peers after lawmakers voted 328 to 301 in a first step toward forcing Johnson to delay Brexit by three months. Johnson, who had already lost his parliamentary majority on Tuesday, retaliated by calling for a general election.