UK lawmakers approve first stage of law to delay Brexit

British lawmakers have voted in favour of the first stage of the law to force the government to delay Brexit by three months with a majority of 29, 329 vs 300.

Although the British pound's reaction to this development was relatively muted, the GBP/USD pair continues to inch higher. As of writing, the pair was up 1.05% on the day at 1.2211. Later in the session, markets will be paying close attention to the final round of the vote on the Brexit bill.