Sterling, which on Tuesday fell below $1.20 and to its weakest in three-years, rose 0.4% to the day's high of $1.2129 .

Against the euro it rallied 0.3% to 90.53 pence.

Lawmakers who defeated Prime Minister Boris Johnson's government late on Tuesday are expected to introduce a bill in parliament on Wednesday seeking to stop Britain from leaving the European Union on Oct. 31 without transitional arrangements.