Sterling fell in early London trading this morning 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% lower on the session. 

Against the euro sterling dropped 0.7% to stand at 85.55 pence. 

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