British pound falls as May's offer to quit fails to break Brexit deadlock

LONDON: Sterling fell in early London trading on Thursday after Prime Minister Theresa May's offer to quit failed to convince hardline opponents to back her Brexit withdrawal agreement.

The pound fell to a day's low of $1.3132, 0.4 percent lower on the session. Against the euro sterling dropped 0.7 percent to 85.555 pence.

The British parliament's bid to agree an alternative plan for Brexit to May's agreement with Brussels fell short on Wednesday, leaving the Brexit process as deadlocked as ever.