Mubasher: Brexit talks between the ruling Conservative Party and the opposition Labour Party ended without an inter-party deal, throwing the UK further into disarray, CNN reported.

In reaction, the sterling pound dipped against the US dollar to $1.2760, its lowest level since four months.

By 1:04 pm GMT, the USD/GBP pair dropped by 0.35% to $1.2753, while the EUR/GBP pair rose by 0.35% to GBP 0.8762.

The cross-party negotiations have “gone as far as they can go,” culminating in both sides’ failure to bridge “important policy gaps between us,” Labour leader Jeremy Corbyn’s letter to the government was quoted by the media oulet on Friday.

UK Prime Minister Theresa May indicated that she will resign soon as Conservative Party leader.

Corbyn laid the collapse of the talks at the door of the increasing fragility and instability of May’s government, warning that even if a deal was hammered out, May’s successor could simply scrap it.

This “means there cannot be confidence in securing whatever might be agreed between [both sides],” Corbyn said.

The discussions, which have last for nearly six weeks, were held in a bid to agree on a plan for the UK’s departure of the European Union (EU), which could stand the chance of approval by the House of Commons.

Now, uncertainty mounted over how the UK will exit the bloc, three years after Britons voted in favour of the departure in a bitterly fought referendum.

The latest deadline agreed on between London and Brussels was 31 October.