Prime Minister May was widely expected to win today’s no confidence vote as the conservative party does not want to risk losing power in a general election. The margin of victory was only 19 and highlights the Prime Minister problem that she cannot control a majority in the House of Commons.
The next step for PM May is to create a Plan B before the Monday night deadline. Cross party talks are expected as May immediately invited rival party leaders after the voting results. Labour Party leader Jeremy Corbyn demanded the government remove no-deal prospect before talks.
Current expectations are that a no-deal Brexit is less likely and that we may see Article 50 eventually extended.
Cable spiked over 20 pips following the result to 1.2881, but is little changed for the day.
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