As British MPs attempt to block a no-deal Brexit, the GBP surged in a two-day rally. British Prime Minister Boris Johnson is being pressure by the opposition to hold an election that would result in extending the Brexit deadline. Later today, the House of Lords will be giving their review on the proposed bill that would stop a no-deal Brexit from happening. 

GBP/USD is being traded over 1.2300 following a breakthrough on Thursday, adding to its previous gains. Wednesday’s Parliament decision to stall Brexit boosted the British Pound. Carolyn Fairbairn, director-general of the CBI said that the likelihood for the bill to be halt a no-deal Brexit is a ‘chink of light’ for firms in the UK. However, she went on to say that doubts over the Brexit deal keeps investment from growing. An economic crisis could be prevented if the parliament compromises on a deal. This helped the Cable to keep its momentum and reach a one-month high at 1.2354. The British Pound was also valued higher than €1.11 against the Euro. 

EUR/USD trades below the 1.1050 handle following a 0.6% drop in German industrial production. US Dollar price dynamics led the pair to positive prices, adding to the week’s optimistic rebound from 28-month lows. Traditional safe-haven assets were sought less after trade talks between the U.S. and China were said to recommence.