March 14, 2019 / 8:35 AM / 6 months ago

Sterling claws back early losses ahead of vote on delaying Brexit

FILE PHOTO: British Pound Sterling banknotes are seen in a counter machine at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File Photo

(Reuters) - Sterling rose off earlier session lows on Thursday to trade broadly flat against the dollar and the euro as risks of a no-deal Brexit eased further following the British parliament’s vote on Wednesday.

The pound leapt 1.5 percent on Wednesday to nine-month highs of $1.3380 then fell overnight before clawing back some of those losses on Thursday to stand 0.1 percent lower at $1.3328 by 0815 GMT.

Versus the euro, it was flat at 85.01 pence, having approached recent 22-month highs on Wednesday to trade at 84.72 pence.

Lawmakers will vote on Thursday on delaying Britain’s EU departure beyond March 29.

Expectations are rising that lawmakers will now support Prime Minister Theresa May’s chances of getting her deal with the EU through parliament. Alternatively, this week’s votes could lead to Brexit being called off altogether if a second referendum is held.

Reporting by Sujata Rao; Editing by Tom Finn

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