London (CNN Business) The pound's make or break moment is creeping closer. The UK currency dropped sharply Tuesday after legal advice from a key government official poured cold water on the latest version of the Brexit agreement Prime Minister Theresa May has negotiated with the European Union. The advice increases the risk that UK lawmakers will reject the deal for a second time in a vote expected at 3:00 p.m. If that happens, there's a greater chance that Britain will crash out of the European Union without a deal — doing big damage to the economy — or that Brexit will be delayed, prolonging the uncertainty for business. Investors reacted to the developments by pushing the pound down as low as $1.30, a negative swing of 1.7% from levels near $1.32 reached on Monday when hopes for a deal dominated trading.

Source: CNN March 12, 2019 12:56 UTC