The British Pound has fallen on Tuesday as investors anticipate the decision to vote on Prime Minister Boris Johnson’s deal to withdraw from the EU.

Following the Conservative landslide, PM Johnson is set to test Parliament again to see whether he can pass his Brexit bill which is looking still quite unlikely.

As Britain’s official deadline to withdraw from the EU is set on January 31st, the British Pound has experienced volatility.

Parliament has allowed three days for debate before MP’s hit the voting both, before the decision is then sent to the House of Lords.

The EU and the UK are yet to set a definitive agreement, which has seen the pound fluctuate over the last few months.

The Pound has seen sharp spikes, a notable rise coming on the announcement of the exit polls in the December election.

A failure to complete negotiations by the end of 2020 cold see the two parties enter default trading terms as defined by the WTO.

A no deal Brexit has been analyzed by members at Danske Bank (CPH:DANSKE) and comments are found below.

“Some no deal Brexit fears have been priced in earlier than we previously thought,” says Mikael Olai Milhøj, Senior Analyst at Danske Bank. “We had thought it would take a while before Brexit would dominate the headlines again but PM Johnson’s renewed promise not to extend the transition period, which is set to end on 31 December 2020, means investors have become slightly more concerned about Brexit,

Johnson this week will look to get the ball rolling as he meets the President of the European commission on Wednesday.

“On Wednesday, UK PM Boris Johnson and European Commission President Ursula von der Leyen will meet to discuss upcoming trade talks, which puts Sterling at risk of heightened volatility. The British Pound has suffered a dramatic sell-off since the historical election last month due to Mr Johnson’s hardline stance on Brexit,” says George Vessey, Currency Strategist at Western Union.

GBP/EUR – Today’s Data

Across Tuesday trading, the Pound opened at 1.1764 and has seen highs of 1.181.

Additionally, the lowest point recorded was 1.1727. Currently the exchange rate lies at 1.176.