Pound sharply down against the major currencies. In the last few hours, the pound has fallen by more than 0,70% against the dollar (1,3098) and by 0,55% against the euro (0,8890).
The increasingly uncertain future of Prime Minister Theresa May weighs on the British currency. According to some British media, 40 Conservative MPs have written a letter of no confidence in Downing Street's number one. To initiate a change at the top, 32 votes would be enough.
The party's dissatisfaction is linked to the poor results obtained so far by the London government in the Brexit negotiations.
In fact, the negotiations are still stalled: Brussels does not intend to move on to phase two, the one on future trade agreements between the United Kingdom and the EU, until the balance is found on the bill that London will have to pay before saying goodbye to the United Europe.
Another controversial (and strategic) point in the negotiations concerns the future management of the border between Northern Ireland and the Republic of Ireland. Furthermore, it is not yet clear what legal status the millions of EU citizens currently residing in Great Britain will enjoy.
To further aggravate the picture for the May government have recently been added the resignations of two ministers: Priti Patel, international development secretary, left the Cabinet last week in the wake of alleged unauthorized meetings with Israeli officials, while the secretary Defense Micheal Fallon resigned in early November over alleged harassment.
