Pound slips back as markets react to Brexit ruling

The pound has slipped back after the UK's highest court ruled on a legal challenge over the Brexit vote. Sterling was initially a little higher at more than $1.25 as the Supreme Court upheld a ruling that the Government needs the approval of Parliament to trigger the process of leaving the European Union. Meanwhile there was anxiety among businesses about whether the ruling would mean more anxiety about the timing or the nature of the UK's departure from the EU.