The sterling lost by more than 70 basis points today as the UK enters a critical point as it grapples with Brexit. In the past weekend, the EU leaders voted unanimously on accepting the proposed deal. Theresa May now faces a tough challenge on how to convince her party MPs to accept the deal. She argues that this is the best deal for the country. Many MPs in her party have signaled that they will not support the deal because they believe it gives the European Union a lot of power over the UK. As a result of the uncertainties, investors have continued to deal with constant swings on the sterling as they process new information. Earlier this week, Barclays warned that a rejection of the deal by parliament by a wide margin increased the chances of a no-Brexit deal and placed the sterling at a risk of a 5-10% decline against the USD.