The British pound fell on Thursday in Asia after U.K. lawmakers voted to reject leaving the EU without a withdrawal agreement. The yuan also slid following the release of below-forecast factory output data.<\/p>\n
On Wednesday, U.K. lawmakers voted by 312 to 308 for an amendment that ruled out the U.K. leaving the EU without a withdrawal agreement. Lawmakers are now expected later today to vote for a delay to Brexit on March 29.<\/p>\n
The\u00a0<\/span>GBP\/USD<\/a><\/span>\u00a0<\/span>pair initially rallied more than 2% following the news but gave up some of its earlier gains today. The pair last traded at 1.3242 by 12:30 AM ET (04:30 GMT), down 0.7%.<\/p>\n Meanwhile, the\u00a0<\/span>USD\/CNY<\/a><\/span>\u00a0<\/span>pair edged up 0.1% to 6.7108 after data showed China\u2019s\u00a0<\/span>industrial output<\/a><\/span>\u00a0<\/span>grew at the slowest pace in 17 years for the first two months in 2019.<\/p>\n Retail sales<\/a><\/span>\u00a0<\/span>and\u00a0<\/span>fixed-asset investment<\/a><\/span>\u00a0<\/span>came in marginally above estimates.<\/p>\n On Thursday, the People’s Bank of China (PBOC) set the yuan reference rate at 6.7009 vs the previous day’s fix of 6.7114.<\/p>\n The\u00a0<\/span>U.S. dollar index<\/a><\/span>\u00a0<\/span>that tracks the greenback against a basket of other currencies gained 0.1% to 96.648. The dollar was under pressure on Wednesday as the pound rallied on the latest Brexit news.<\/p>\n Overnight, the Labor Department said its\u00a0<\/span>producer price index<\/a><\/span>\u00a0<\/span>for final demand increased 0.1% last month, but missed economists’ forecasts for a 0.2% increase. In the 12 months through February, the PPI slowed to a 1.9% increase, in line with expectations.<\/p>\n Elsewhere, the\u00a0<\/span>AUD\/USD<\/a><\/span>\u00a0<\/span>pair slid 0.4% to 0.7060 following the release of underperforming Chinese data this morning.<\/p>\n China is Australia\u2019s largest trading partner.<\/p>\n","protected":false},"excerpt":{"rendered":" The British pound fell on Thursday in Asia after U.K. lawmakers voted to reject leaving the EU without a withdrawal agreement. The yuan also slid following the release of below-forecast factory output data. On Wednesday, U.K. lawmakers voted by 312 to 308 for an amendment that ruled out the U.K. Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-1291","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1291","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1291"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1291\/revisions"}],"predecessor-version":[{"id":1292,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1291\/revisions\/1292"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}