Sterling paused for breath today but stayed on course for its biggest weekly gain in seven weeks.

The UK parliament voted to seek a delay in Britain's exit from the European Union yesterday, following a decision to avert a no-deal Brexit.

Sterling last traded at $1.3252, having slipped further from Wednesday's nine-month high of $1.3380, with its fall of 0.76% yesterday. 

But it is up 1.8% so far this week, the biggest such gain since late January, supported by relief that Britain will avoid crashing out of the EU without a deal. 

Against the euro, the pound retreated to 85.45 pence per euro from Wednesday's 22-month peak at 84.725. 

UK MPs approved a motion setting out the optionto ask the EU for a short delay if parliament can agree on a Brexit deal by March 20, or a longer delay if no deal can be agreed in time.

The pound was mostly steady after the motion was passed yesterday evening.