London (CNN Business) 1. Brexit fears: The pound is under pressure as Britain plunges deeper into Brexit chaos.

The currency dropped 0.3% against the US dollar to trade below $1.32 as Prime Minister Theresa May asked the European Union for more time. It also slipped against the euro.

May is going to Brussels Thursday in an attempt to convince EU leaders to grant an extension to the Brexit process until June 30. If they decline, Britain risks crashing out of the bloc on March 29.

The president of the European Council, Donald Tusk, says a short delay is possible but it's conditional on the UK parliament passing May's twice-defeated divorce deal.

In a televised address on Wednesday, May blamed lawmakers for failing to implement the result of the 2016 referendum.