The pound has slipped following the latest Brexit developments which continue to serve as a barometer for the currency’s movements. GBP is currently trading at €1.135 against the euro, according to Bloomberg at the time of writing. Yesterday, amendments by Labour and the Scottish National Party were voted down by members of the House of Commons. In a further blow to Theresa May, MP’s rejected a motion in support of the PM’s Brexit strategy by 308 to 258.
Pound to euro exchange rate: Sterling slips after Theresa May’s fresh Brexit defeat
May’s main motion asked Parliament to support her in going back to the European Union (EU) to seek renegotiations on the backstop but was ridiculed by MPs.
Key Conservative Brexiteers abstained from the vote, saying the Government's motion implied a no-deal Brexit would be ruled out.
Labour leader Jeremy Corbyn has now called on May to "admit her Brexit strategy has failed.”
The Prime Minister was not present in the House of Commons to hear the result read out.
Downing Street later hit back at the Labour leader and blamed him for the defeat.
Theresa May now faces a huge challenge in going back to Brussels with European leaders expected to push her into accepting the support of Corbyn.
Pound to euro exchange rate: Sterling slips after Theresa May’s fresh Brexit defeat (Image: Getty Images)
