The House of Commons will vote this evening, yet again, on a series of amendments to Brexit. Depending on the outcome of this evening’s votes, forex traders will hopefully get a clearer picture on the path of Brexit and the implications for the British Pound. Yesterday evening, Prime Minister May abandoned her Brexit deal which she negotiated with the EU over an 18 month period after she lost the vote by a record amount. She tried until yesterday to win concessions, but has now changed course and is backing a proposal by pro-Brexit lawmakers to rewrite the deal.

Delays, defeats and deadlines have been the norm since Prime Minister May brought back a deal from Brussels almost nobody in Parliament supports. Today’s vote was scheduled for last month, but May pulled it as it was clear that she would suffer a great defeat. Today appears to be no different, but many are now waiting to see by how many votes she will actually lose in order to determine the next steps. The EU could give more concessions if May loses by less than 60 votes.

British PM Theresa May survived the no confidence vote from her own Tory Party yesterday evening as 200 voted that they do have confidence in her while 117 voted that they have no confidence. This was more than enough for her to stay on as PM as there can’t be another no confidence vote for twelve months from her party. The opposition Labour Party may decide to push through a no confidence vote in her abilities which could lead to a new general election.