Cable is back above 1.31 (up 100 pips off the lows) after UK PM Theresa May managed to fend off an attempt by pro-EU Conservative rebels to force her to stay in a customs union with the bloc after Brexit.
As Bloomberg reports, it was a narrow escape.
The government won the vote 307-301. Beforehand, the government had considered pulling the whole bill if they had been defeated on that amendment.
And while cable is rebounding, it does not look convinced…
This is still far from over.
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