Three Remain-supporting junior ministers, Margot James, Richard Harrington and Claire Perry, have threatened to resign and there are suggestions that more are prepared to follow.

Meanwhile Labour has announced its support for a new public vote on Brexit in order to prevent a “damaging Tory Brexit being forced on the country”.

Following this, Sterling hit a four-week high, with the pound strengthening half a cent against the dollar. 

The start of this week’s session saw a lessening of tensions between the US and China following a tweet from US President Trump.

Mr Trump’s tweet indicated that he would delay enforcing the increased tariffs on Chinese imports as the two countries had made “substantial progress” in trade discussions. 

Talking to a gathering of US Governors, Mr Trump stated: “We’re going to have another summit, we’re going to have a signing summit. So hopefully, we can get that completed. But we’re getting very, very close.”

In the aftermath of the President’s comments, the US dollar saw a general weakening as investors pulled out of safe haven currencies and sought higher yield instead.

Nevertheless, this afternoon the US dollar could see an upswing of support if Federal Reserve Chairman Jerome Powell’s tone is hawkish when testifying before Congress. 

If Mr Powell’s overview of the US economy is largely upbeat it could buoy the dollar.

On the other side of the pairing, Brexit is likely to remain the main catalyst for movement in the pound today.

If Theresa May indicates in a speech that she will remove the possibility of a no-deal or a delay the pound is likely to rise. 



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