The BBC's Laura Kuessenberg reports that the Northern Irish Democratic Unionist Party refuses to support PM Theresa May's Brexit after a conversation between the leaders.
GBP/USD is falling below 1.3200 after hitting a high of 1.3246 earlier in the day. Support is seen at 1.13160, the low of the day, followed by the round number of 1.3100.
Support from the DUP is critical to a Parliamentary approval for the Brexit accord that was defeated twice by the House of Commons. There were reports that PM May could offer her resignation in order to convince some of her Brexit-supporting colleagues to vote in favor of the accord. May will deliver a statement to Parliament at 15:30 GMT.
Here is how the move looks on the pound;dollar chart:
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