May Kicks Brexit Can Down the Road, Raises Risks of No Deal

Theresa May is playing for time. Faced with a humiliating defeat on her Brexit deal, the embattled U.K. prime minister announced to the House of Commons she would defer a vote and return to Brussels to seek “assurances” from European Union leaders. The pound hit the lowest since April 2017 as the market judged that the risk of no-deal Brexit has increased.

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