The Telegraph reports

The report can be found here. But it just details what we already know, in that May's new deal is basically dead on arrival and that she doesn't have enough support to win over parliament should it be put to a vote.

The paper's deputy political editor also adds that a Cabinet minister said that "we are going to push very, very hard to make sure that this does not see the light of day", noting that "it is a disaster" and that "everyone is just waiting for her to work that out and stand down".

Despite May's latest setback, I reckon she could still throw a curveball by potentially adding a second referendum to "sweeten the deal" in her withdrawal agreement bill. That's likely her last ditch effort to try and sway some support from the Labour party and could help the pound see a reprieve, but ultimately as per previous obstacles, she won't be able to pass this hurdle either and that means any relief for the pound will only be for the short-term.