# Forex market: Sterling falls as British lawmakers fail to find an alternative to Brexit

> Sterling fell broadly after British lawmakers failed to back any alternative to Prime Minister May's Brexit deal in indicative votes. The pound dropped to $1.3048, down nearly 1%, and fell by a similar margin against the euro to 85.84 pence.

- Date: 2019-04-01 · published 2019-04-01T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/59847-forex-market-sterling-falls-as-british-lawmakers-fail-to-find-an-alternative-to
- Commodities: [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

A weaker pound against the dollar and euro raises the cost of UK-sourced or sterling-priced feed purchases and reflects rising no-deal risk.

## Read by commodity

- EURUSD: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| EURUSD | 2022-12-15 | [Sterling falls against dollar and euro on 'dovish' UK rate hike](https://feedsoft.ai/events/38477-sterling-falls-against-dollar-and-euro-on-dovish-uk-rate-hike.md) | -0.5% | +1.5% |
| EURUSD | 2019-10-18 | [Dollar weak as Brexit deal boosts euro; sterling in check](https://feedsoft.ai/events/56788-dollar-weak-as-brexit-deal-boosts-euro-sterling-in-check.md) | -0.3% | -0.7% |
| EURUSD | 2017-05-04 | [Wave of optimism trumps populism as European markets spring back to life \| Reuters](https://feedsoft.ai/events/71211-wave-of-optimism-trumps-populism-as-european-markets-spring-back-to-life-reuters.md) | -0.4% | +2.7% |
| EURUSD | 2019-06-06 | [Forex Market: Euro strengthens after ECB dashes dovish hopes](https://feedsoft.ai/events/58806-forex-market-euro-strengthens-after-ecb-dashes-dovish-hopes.md) | +0.6% | +0.3% |
| EURUSD | 2019-04-12 | [Pound Sterling Forecasts Slashed at ING after Brextension Derails Bank of England](https://feedsoft.ai/events/59849-pound-sterling-forecasts-slashed-at-ing-after-brextension-derails-bank-of.md) | -0.2% | -0.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2019/04/01/forex-market-positive-chinese-pmi-brexit-deal-in-focus.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.