Weekly Market Outlook

May Pledge Pushes Pound to Best Day Since 1993: Chart

The pound jumped the most since 1993 against the dollar after U.K. Prime Minister Theresa May pledged to give both houses of Parliament a vote on the final Brexit deal she strikes with the European Union. The news of the vote lifted the currency even as May’s spokeswoman, Helen Bower, told reporters on Tuesday that “whatever happens, we will be leaving the EU.” Even after the jump, sterling remained below its highest level this year, and is down 17 percent since the nation’s June vote to exit the EU.