Brexit Amendment I defeated in a victory for May

May will be able to set out government business on March 20

The amendment would have given the power for MPs to hold indicative votes on the kind of Brexit they want.

The vote was 312 in favor and 314 opposed.

Cable dipped initially on the result. The thinking was that if power was wrestled from May it would pave the way for a softer Brexit or none at all. I'm not sure I buy into that reasoning.

For me, the best near-term scenario for the pound is that May's deal passes and this would have made it tougher for her to keep control.

The next vote is an amendment to call for a delay in Brexit and time to explore a consensus. It's very likely to be defeated.