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Traders are still jittery over Boeing's woes and Theresa May's Brexit deal was voted down in Parliament, leading to uncertainty and a bit of relief.
The downtrodden pound could be a big winner from the UK’s Brexit chaos, but investors are expecting a bumpy ride
May's defeat makes a second referendum, or Britain never leaving the EU at all, more likely. Those scenarios would be a godsend for pound bulls.
May was widely expected to suffer a crushing, and that defeat came to pass, with MPs voting 432-202 against the Withdrawal Agreement.
A Brexit-backing hedge fund titan now says Britain won’t actually leave the EU, and is betting big on the pound
"My view is that it ain’t going to happen," Crispin Odey said. "I just can’t see how it happens with that configuration of parliament."
News of a vote on Prime Minister Theresa May's leadership sent the pound rallying as uncertainty gave way to optimism about a Brexit delay.
The pound has gained more than 1.1% against the dollar on Thursday morning.
UBS: A UK recession and pound-dollar parity are on the horizon, and Brexit risks are rising ‘literally’ by the minute
'The risks of a more disorderly situation around Brexit are, literally as we speak, increasing,' UBS' John Wraith said on Thursday.
The pound is tanking after Theresa May’s Brexit secretary, key Cabinet minister resign in protest of withdrawal plan
The pound tumbled 1.5% after a key cabinet member joined Brexit secretary Dominic Raab in resigning in protest of Theresa May's plan to leave the EU.
The pound is charging higher against other major currencies on Tuesday afternoon.
UK and EU secured a deal on the relationship for financial services firms operating in the two jurisdictions after Brexit. The pound rallied 1%.