Sterling wipes out day’s gains amid reports PM is facing no-confidence vote

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. Sterling plummeted on Monday after Theresa May postponed a crucial parliamentary vote on her Brexit deal, fearing a humiliating loss. However, Conor Campbell at Spreadex said: “The pound cut a precariously positive figure.” Analysts have recently warned that the pound is likely to be highly volatile until the government makes a decision about Brexit. Lukman Otunuga, research analyst at FXTM, warned: “If investors become more anxious that the United Kingdom is falling into either a no-deal Brexit or even worse, a disorderly Brexit trap, then a move to a 1.20’s low cannot be ruled out over the coming weeks. Sir Keir Starmer: It's 'inevitable' Labour will table a motion of no confidence in government if May’s Brexit deal is voted down “As the week progresses markets will be keeping a very close eye on whether May has the ability to renegotiate with Brussels in a bid to save the deal, if she will end up facing a leadership challenge, or the possibility of a second Brexit referendum.