British pound slips as U.K. parliament votes to change Brexit plan

The British pound fell off session highs on Wednesday following news that British lawmakers voted in favor of changing Prime Minister Theresa May's Brexit plan. This is only the latest hiccup in the arduous process that has been the U.K.'s attempt to exit the European Union. It also comes as a set back to last week's news that sufficient progress had been made to move into the next phase of talks. The British pound remained in positive territory, propped up by a sliding U.S. dollar, which fell after the Federal Reserve raised interest rates but failed to update its forward guidance for the future interest rate hikes and inflation, according to market participants. One pound last bought $1.3369, up 0.4%, while the euro gained 0.1% against sterling at £0.8815.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.