Pound Tumbles As Leading Brexiteers Walk Back Support For Brexit Deal

For a brief moment earlier this week, it looked as if Theresa May's supremely unpopular Brexit withdrawal deal might actually pass on the third go. But after the DUP reaffirmed its opposition to the deal last night, and a group of Brexiteers calling themselves "the spartans" said they wouldn't follow ERG leaders like Jacob Rees-Mogg and Boris Johnson in accepting Theresa May's "back me then sack me" deal gambit, support for the deal is crumbling once again.

Both Johnson and Rees-Mogg have reportedly rescinded their support for the deal, and though No. 10 insists talks with the DUP are ongoing, it's unlikely we'll see them relent, unless May can succeed in securing "material changes" to the agreement, which the EU has already made clear isn't an option.

The pound broke below a critical resistance level at $1.3125 Thursday morning, as last night's indicative vote failed spectacularly, with MPs rejecting every alternative to May's deal. This was a moot point anyway, since the EU has made clear that it's either the withdrawal agreement, or no deal.

GBP

While Parliament is expected to debate May's Brexit deal tomorrow, it's unclear whether it will be brought for a third  vote, since May must still pass Speaker Bercow's "significantly different" test.

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