The government has lost the second vote by 320 to 308 after winning beforehand. Parliament has voted to take its time and have a long debate.
GBP/USD has dropped to 1.2877.
— more to come
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The second vote is the program motion – pushing all Brexit legislation within three days, so that the UK can leave the EU by October 31. The government threatened it would abandon further procedures and call elections if it fails in the second vote.
GBP/USD hit a high of 1.30 after the first vote but dropped sharply below 1.29. High volatility is set to continue.
Several minutes ago, UK Prime Minister Boris Johnson enjoyed a major victory. His Brexit deal passed the first hurdle of legislation by a whopping majority of 30.
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