England's High Court ruled on Thursday that the British government requires parliamentary approval to begin the formal process of exiting the European Union.

Trade minister Liam Fox said the government was disappointed with the decision. 

"Mr. Speaker, the government is disappointed by the court's judgment. The country voted to leave the European Union in a referendum approved by Acts of Parliament. The government is determined to respect the result of the referendum. This judgment raises important and complex matters of law and it's right that we consider it carefully before deciding how to proceed." Trade minister Liam Fox said.
 
The court granted the government permission to appeal the ruling. The government could appeal at a hearing in early December. The pound jumped briefly past 1.24 dollars a pound for the first time in more than three weeks on Thursday. The yield on Germany's 10-year government bond, the euro zone's benchmark, rose 4 basis points to a day's high of 0.17 percent.