Sterling bleeds to 20-month nadir as May puts off Brexit vote

Sterling slumped over 1.5% in American trade to April 2017 lows against the dollar following earlier data from Britain and the US, while British Prime Minister Theresa May delayed a planned Parliament vote on Brexit for fears of losing it. 

As of 04:29 GMT, GBP/USD shed 1.52% to 1.2532, with an intraday high at 1.2769, and the lowest in 20 months at 1.2711. 

Earlier UK data showed manufacturing production fell 0.9%, compared to a 0.1% increase in September, while industrial output fell 0.6%. 

UK goods trade deficit widened to 11.9 billion pounds from 10.7 billion, while the services index for the three months ending October rose 0.3% as expected. 

British GDP rose 0.1% as expected, improving from zero in September. 

The pound remains under severe pressure from fears of an unorganized Brexit, especially after PM Theresa May put off a planned vote on Brexit in Parliament as the government admitted the bill would've been defeated soundly. 

May said no other vote is expected to occur before January 21, while maintaining that the current deal is the best possible outcome. 

From the US, an index tracking job opportunities rose to 7.08 million from 6.96 million in September, missing estimates of 7.22 million.  

Payrolls data released last Friday showed the unemployment rate steadied at 3.7% in November as expected, the lowest since 1969. 

US average earnings rose 0.2% in November, missing estimates of 0.3% and matching the pace of October. 

The US economy added 155 thousand new jobs in November, missing estimates of 198K, and compared to October's 237K increase, revised from 250K.