Just in: Pound sinks into losses on Brexit deal rejection fears

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Sterling sank into losses in chaotic trade on Thursday on fears that Britain’s Brexit deal might not win parliamentary approval, having earlier spiked close to $1.30 on news of the agreement.

At about 1225 GMT, the pound was down 0.28 percent against the dollar at $1.2795. The euro meanwhile rose 0.65 percent to 86.85 pence.

“After the initial relief that the UK government and EU have done a deal, markets are worried that it still does not have enough support to get through parliament on Saturday,” independent economist Julian Jessop told AFP.