The pound is the laggard as we begin the European morning
Cable touched a low of 1.3167 in the past half-hour before moving up slightly now but the pound is still the weakest performer among the major currencies bloc so far today. The latest on Brexit developments is that May is potentially facing a Cabinet revolt with growing pressures for her to step down as prime minister in order to win support for a Brexit deal.
While that is happening, she's still struggling to get enough support for a third meaningful vote and there's only time up until this Friday for things to be cleared up. Otherwise, we're headed for a Brexit extension to 12 April with odds of a no-deal Brexit set to rise substantially.
The other key thing taking place in the UK parliament today is that we will have a series of votes once again, with the crucial one being the 'indicative votes' amendment/legislation that would allow MPs to wrestle control of the Brexit process from May.
If the vote on that passes, I don't see how much longer can May stay on as prime minister especially if lawmakers decide on a second referendum as being the next course to pursue in the Brexit saga.
