Pound Surges After Government Loses Key Brexit Ruling
Pound surges after Brexit ruling The embattled pound surged against the Euro as the High Court ruled Theresa May must consult Parliament before triggering Article 50.
Overnight and into the morning Sterling had held at around 1.1091 but shot up to 1.1218 after the announcement was made.
The High Court ruled Theresa May does not have the authority to use royal prerogative to trigger Article 50 and take the United Kingdom out of the European Union.
Instead MPs will be granted a vote in the Commons.
The government has been given the go-ahead to appeal against the ruling at the Supreme Court.
The surge in the pound is the exact opposite market reaction to last week when the High Court in Belfast ruled in favour of the Government in a similar case.
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