Sterling spiked higher earlier today after the Evening Standard reported that it’s increasingly likely that Brexit will be delayed beyond March 29. Unnamed senior minister was quoted saying “the legislative timetable is now very very tight indeed… certainly, if there was defeat on Tuesday and it took some time before it got resolved, it’s hard to see how we can get all the legislation through by March 29.”

However, Prime Minister Theresa May’s office was quite to come out to deny the rumor. Her spokesman Alison Donnelly said May has ruled out extending Article 40. And, “it’s government policy that this is not something we are going to do.”

The pound pared back some gains but remains generally firm against Dollar, Euro and Yen.

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