UK's Hammond: Second referendum very likely to be put to parliament at some stage
Comments by UK finance minister, Philip Hammond
- But says government would not support a second referendum
- Chances of second referendum depends on Labour, which is deeply divided on this
- Some disagreement with Labour on Brexit priorities
- But there is agreement on fundamentals
- Optimistic will get a Brexit deal in next couple of months
- UK will have some work to do to restore reputation after Brexit
Hammond has been one of the more vocal Cabinet members speaking about the possibility of a second referendum, but he's still insisting that the government would not back it for now. His remarks also suggest that there is some progress in talks with the Labour party but how credible and feasible any Brexit workaround is we will have to see.
Cable is making some solid ground on the day now as it pushes to just under the 1.3100 handle. But the move owes more to do with the dollar's weakness than the pound's strength as Brexit continues to sit in limbo.