London (CNN Business) Political turmoil over Brexit has sent the pound plummeting close to its lowest level this year.

Sterling dropped as much as 0.65% against the US dollar on Wednesday to just above $1.26 before recovering slightly. The currency has shed about 2.8% this month, and is on track for a record 13 straight days of declines against the euro, according to analysts.

The fall comes as Britain once again faces the prospect of a messy exit from the European Union.

if they first backed her deal. Prime Minister Theresa May on Tuesday unveiled details of her final bid to get a Brexit deal through the UK parliament. Her new pitch, framed as a compromise, would let members of parliament vote on whether to hold a second referendum if they first backed her deal.

But the plan was met with opposition from across the political spectrum and appears dead on arrival.

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