Breaking: UK lawmakers reject Cooper's 'extend article 50' amendment, GBP/USD drops to 1.31

British lawmakers have rejected down the Yvette Cooper amendment, 321 vs 298, which would guarantee time for Cooper to draft a bill to extend article 50 to the end of 2019 if PM May were to fail to secure a deal by late February.

With the initial market reaction, the GBP/USD pair came under a heavy selling pressure and was last seen trading at 1.31, losing 0.46% on a daily basis.