UK Prime Minister Boris Johnson suffered heavy defeat in the Commons overnight.. Sterling extended recent rebound as it’s now much less likely for no-deal Brexit to happen on October 31.
The backbench launched bill on blocking no-deal Brexit has passed all stages and will head to the Lords on Thursday. Johnson then reacted to the defeat by calling a vote on general election on October 15, via the Fixed-term Parliaments Act. Support from two-thirds or more of MPs is required to pass the motion. But Labour and other oppositions mainly abstained. The motion won by 298 to 44 , way short of the 430-plus threshold.
Labour has indicated that they might still back an election once the bill to stop a no-deal Brexit had become law. Even, Labour might only push for a election after October 31 Brexit date.
