Pound V euro: GBP exchange rate nosedives as political pressure mounts
GBP/EUR is currently at around €1.123, down 0.67 per cent from this morning’s starting levels.
Sterling sentiment soured this morning as investors fret over the stability of the UK government following a report over the weekend that up to 40 rebel Conservative MPs are looking to mount a leadership challenge against the Prime Minister.
This puts them dangerously close to the numbers needed to formally trigger a contest against Mrs May, and the uncertainty such a situation would inspire is rattling markets.
The possible challenge comes after another cabinet reshuffle in the wake of Priti... read more
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