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Sterling gains on belief UK will delay Brexit following likely defeat for May in Tuesday's vote

News Summed Up 2019-01-11 05:30:00

A London Evening Standard report saying UK cabinet ministers were preparing to delay the Brexit process, or Article 50, helped boost the currency, as Tuesday's parliamentary vote on Theresa May's transition deal draws closer. Arguably, the only uncertainty over Tuesday’s parliamentary vote on May’s Brexit deal is the size of the government’s defeat," the economics firm said. Chris Beauchamp, chief market analyst at online trader IG, said that extending Article 50 was now "vital" for the UK. "As the UK hurtles towards Tuesday’s meaningful vote, the signs of a shift in position become clearer. Time is fast running out, but with so much still to be done an extension to Article 50 becomes vital," Mr Beauchamp said.