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Former Labour Prime Minister Tony Blair warned on Monday, Labour leader Jeremy Corbyn “should see an election before Brexit is decided for the elephant trap it is.”  

Blair added: “Boris Johnson knows that if no-deal Brexit stands on its own as a proposition it might well fail but if he mixes it up with the Corbyn question in a general election he could succeed despite a majority being against a no-deal Brexit because some may fear a Corbyn premiership more.”

The UK political chaos on the Brexit issue continues to undermine the pound, as the Cable drops -0.60% to 1.2085, off the 1.2076 lows.