Sterling reached new lows yesterday as it headed for its worst run in almost 15 years, and is under increasing pressure today. This has been spurred on by reports that the Prime Minister will step down if she cannot get her bill through the House of Commons next month. Expectations for the bill passing through are so far, very low.
Boris Johnson has confirmed that he will run for leader once May resigns, saying “Of course I’m going to go for it.” There is now speculation that a hard Brexit could be on the cards, as well as the possibility of leaving the EU without a deal. As we have seen in the past, the increased prospect of a no-deal scenario tends to weigh on the pound quite heavily.
Meanwhile, after six weeks of negotiations, it has been reported that Tory whips have given up hope of finding an agreement with Labour over Brexit.
