UK Labour spokesman: Cannot see Labour abstaining in vote on PM's Brexit offer

The opposition Labour Party's spokesman McDonnell said that he didn't think Labour lawmakers would back British Prime Minister Theresa May's Brexit offer. "Regardless of what the PM offers on Brexit, there is an overriding problem with the longer term stability of the Conservative Party," the spokesman added and stated that he didn't see the Labour Party abstaining in the vote. 

While markets are waiting for the PM to deliver a statement on the new Brexit deal, the GBP/USD pair is trading at its lowest level since early January a little below the 1.27 mark.