Cable is at nearly flat levels on the day now
The pair slipped to 1.2865 momentarily as the pound loses some steam with the meaningful vote later today hogging the spotlight. Price traded just above the 1.2900 handle to start the session and if anything, it appears markets are gearing up for May to lose the vote later - which she is expected to.
Expect plenty more volatility in the pound to come later in the day and also keep an eye on the price ahead of the vote later. Should the pound dip significantly further it basically means markets are pricing in the expected outcome further and we could see a 'sell the rumour, buy the fact' play in the aftermath.
For now though, there's nothing to suggest any major repricing going on but the back and forth movement suggests that the movement in the pound after the vote today is still rather uncertain.
