Mrs May has declared that the UK could leave the EU without any kind of Brexit deal unless her proposed ‘Chequers deal’ is agreed to.
Discussing what will happen if MPs do not approve the controversial Chequers plan, Mrs May said the following.
She said: “I think that the alternative to that will be having no deal.”
Brexit-supporting MPs have previously criticised the Chequers plan for being too lenient on trade.
Further raising the stakes, Mrs May has rejected the idea of the EU making a last-minute concession deal if the Chequers arrangement is rejected.
She said: “Do you really think the European Union is going to give a better deal at that point?”
For euro traders, the morning’s economic data has been limited to Italian industrial figures for June, with falling levels of both sales and orders being reported on the month and the year.
Despite this decline, the euro has risen against the pound and made some minor gains against other peers following a sharp decline in US dollar demand.
The US currency has been weakened by another escalation in the US-China trade conflict.
It has seen US trade officials press ahead with a new set of tariffs worth $200 billion.
While such developments have previously strengthened the US dollar and weakened the euro, this time is different and the US dollar and the Chinese yuan have both fallen simultaneously.
The euro has been left looking more appealing because of this shift.
Tomorrow will see high-impact UK inflation data released.
Covering price growth in August, the figures are expected to show a year-on-year slowdown.
Lower inflation reduces the likelihood of a 2019 Bank of England (BoE) interest rate hike, despite it reducing pressure on mortgage payers.