Sterling just shot up after the Article 50 High Court case ruling

Natasha Clark
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UK Pound Rises Above Two Dollars
This is the highest level since the start of October (Source: Getty)

The pound has risen at the news that the government will have to seek parliamentary approval before it triggers Article 50 in March next year.

Today campaigners won a battle in the High Court over Theresa May's decision to use the royal prerogative in her Brexit strategy. Judges ruled that the prime minister does not have the power to trigger Article 50, which will kickstart the UK's exit from the EU, without the permission of parliament.

The government have said they will appeal the decision and take it to the Supreme Court later this year.

Sterling reached $1.2445 against the dollar, up over one per cent, and then took a dip. However, the pound is still way down from earlier in the year.

The pound is also up 0.65 per cent against the euro, to €1.1154.

Yesterday it hit a two week high, but investors thought that was more to do with the possibility of a Donald Trump victory in the US election weakening the dollar.

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