Brexit: PM May to pick no-deal Brexit over revocation of Article 50

Sebastian Payne, Financial Times' Whitehall correspondent, said that British Prime Minister Theresa May would tell cabinet that she would opt for the latter if it were come down to a decision between the revocation of Article 50 and no-deal Brexit. The initial market reaction weighed on the GBP and dragged the GBP/USD pair down to 1.3030 area, where it was erasing around 0.5% on the day.

"Political cabinet is discussing how to try and get the Brexit deal through the Commons. One option to be discussed is whether it could get through with Labour votes if a confirmatory referendum was tacked on. Surprisingly little hope of getting of the DUP back on board," Payne tweeted out.