By  on December 12, 2018

LONDON — The pound made gains on Wednesday night following British Prime Minister Theresa May’s confidence vote win, but the victory was a Pyrrhic one, and there will be trouble ahead.

The pound rose to $1.26 following the announcement that May had won the confidence vote among Tory parliamentarians, with 200 MPs in favor of keeping her as prime minister and 117 voting against. She needed 158 votes to keep her job. Earlier in the day, when the confidence vote was first announced, the pound was at $1.25.

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