By Tim Stickings For Mailonline
Published: 21:10 GMT, 13 March 2019 | Updated: 00:33 GMT, 14 March 2019
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The pound surged on currency markets tonight after MPs voted against a no-deal Brexit, making a delay more likely.
Sterling rocketed to almost €1.18, up nearly two per cent, following two Commons votes to rule out a cliff-edge exit in any circumstances - in another defeat for Theresa May.
Against the U.S. dollar the pound reached a peak of $1.33, up from $1.31 just hours earlier and marking a nine-month high.
The currency surged as investors' fears of a chaotic no-deal exit diminished and the chance that Brexit could be cancelled altogether appeared to rise.
The Commons votes tonight mean that MPs will vote on an extension to Article 50 tomorrow, potentially delaying Brexit until May or later, and leaving the whole process in doubt.
The pound rocketed against the euro on Wednesday night after MPs voted to take a no-deal Brexit off the table - although the result is not legally binding
The pound also soared against the dollar as traders' fears of a chaotic no-deal Brexit diminished amid chaotic scenes in the Commons
But the votes are not binding and a no-deal Brexit on March 29 remains the default position until an extension is agreed.
EU leaders have warned that Britain will need a 'credible justification' to delay its departure from the union.
Mrs May told the
