Sterling edges higher against dollar

The British pound tilted higher against the US dollar today, after the market digested the parliament decision against the Brexit time table yesterday.

The markets are currently eagerly anticipating the next major step after the decision regarding the Brexit file, as uncertainty grows over the future of the UK and the EU relations.

The British Parliament voted on Tuesday against the prime minister proposed fast-track timetable to conclude the Brexit legislative process, which leaves the prime minister with two options, either to request another Brexit deadline extension to the end of January, or to call for early general elections before Christmas in December.

The market focus will turn to the ECB meeting tomorrow, for its interest rates decision, with forecasts to keep it unchanged, and will also be followed by a press conference from the bank's President Mario Draghi.

As of 18:50 GMT, GBP/USD rose by 0.2% to 1.2898, with an intraday high of 1.2902 and a low of 1.284.