GBPUSD below 1.2500 on no-confidence vote headlines
With no official announcement just yet, there are multiple reports citing different sources indicating that the 48-letter threshold has been reached to trigger a no-confidence vote on May's leadership. Senior government expecting an imminent announcement on the matter.
Theresa May leadership has been jeopardized for months, and this is not the first time rumors suggest the no-confidence vote is coming. However, her latest decision to pull out the Brexit deal from a Parliamentary vote has exacerbated the mood for those thinking she is not able to deliver what Brexiteers voted for.
GBP/USD trades at its lowest since last April, now hovering at 1.2480.