The UK Prime Minster was defeated in the Commons last night as rebel Tory MP’s joined with Labour MP’s to vote  328 to 301 in favour of taking control of parliament in order to pass legislation to force the government to delay the UK’s exit from the EU until January 2020. The PM’s red line in the sand is that the UK will leave the EU on the 30th of October 2019 with or without a deal. The only way to achieve this now is to call a snap election to regain a majority in the house of parliament to enable Boris to force through a departure on the 30th. The pound steadied on the news but remains at low levels as investors stay away from investing in the currency.