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UK government loses Brexit vote appeal

GBPUSD News by Newsroom on 04:59 January 24, 2017 EST

The Supreme Court has dismissed on Tuesday the government's appeal in a landmark case about Brexit, meaning that Parliament will now be required to give its approval before official talks on leaving the EU can begin.

The judgement means Theresa May cannot begin talks with the EU until MPs and peers give their backing although this is expected to happen in time for the government's 31 March deadline.

The court ruled the Scottish Parliament and Welsh and Northern Ireland assemblies did not need a say.

The pound trades a bit lower against the dollar after ramping up for the past weeks. GBPUSD trades at 1.247 after the news about a cent lower than yesterday.