Sterling headed for best week since January after Brexit votes

Sterling headed for best week since January after Brexit votes

European Council president Donald Tusk said: "I will appeal to the EU27 to be open to a long extension if the United Kingdom finds it necessary to rethink its Brexit strategy and build consensus around it".

Sterling has remained flat on Friday following the currency's best week of trading since January, with the pound finding support following two major Brexit votes in the House of Commons.

British newspaper The Times reported yesterday that senior EU officials and other European leaders told British Prime Minister Theresa May that "conditions for an extension to the Article 50 exit process would include the option of a second vote on EU membership".

"Although a no-deal exit was voted down, we can not predict what will happen because it depends on how negotiations with the European Union will go, We will have to watch developments closely", Aso said.

The past week's votes have exposed divisions in the UK's two largest parties.

Moreover, any extension is not automatic as she still needs the approval of all 27 remaining European Union member-states - themselves divided on the idea - for an extension.

May has essentially handed Brexit supporters an ultimatum - ratify her deal by next Wednesday or face a long delay to Brexit that would open up the possibility that Britain never even leaves. "As a delay was passed by Parliament, I want to see deal agreed ASAP so we can minimize to short, technical, extension".

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Most Conservative MPs voted against delaying Brexit, including 7 cabinet members Mrs. May's decision to offer a free vote on an issue where there are "strong views on all sides of the debate".

Mrs May's spokesman has said that the government was still making preparations in the event of a no-deal divorce.

A cross party amendment from Labour's Hilary Benn and Yvette Cooper with Tory Oliver Letwin cancels Government business next Wednesday and sets the stage for "indicative votes" meant to identify what kind of Brexit could pass the Commons. Labour MP Ruth Smeeth resigned her position as parliamentary private secretary to Deputy Leader Tom Watson after voting against a second referendum.

May and her allies hope if the 10 DUP lawmakers can be persuaded to drop their opposition, many Brexiteer Conservatives will follow, giving her Brexit deal a fighting chance of winning Parliament's backing.

Mr Kawczynski, is a member of the hard Brexit supporting European Research Group, which has been opposed to Mrs May's deal, along with members of the DUP.

It sets the terms on which a member country will leave the EU.

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