The pound has traded a fraction lower in overnight trading in Asia after a wounded Theresa May limped home from a vote of no confidence. Out of 317 Tory MPs, 117 voted against her, leaving a winning majority of 83: a margin far less than No 10 had hoped. Sterling fell in the immediate aftermath of the confidence vote last night. Earlier the pound had jumped by 1.36 per cent, rising 1.7 cents against the dollar to $1.2655, its third biggest daily rise this year. At 6.49am the pound was trading at $1.261 against the dollar and at €1.109 against the euro.

Source: The Times December 13, 2018 09:00 UTC