Political uncertainty historically weakens the currency in question. To resign at such a crucial stage of Brexit talks could have been timed to cause maximum damage to negotiations. It could be a ploy to oust Theresa May from her position.

We have also seen two Conservative vice chairs resign since Boris Johnson’s departure.

If there is a leadership challenge we could see Sterling suffer significantly.

The one positive to the situation, positive for the economy that is. Is that we could be moving toward a softer Brexit. Davis and Johnson felt May was giving too much away with her Brexit proposal and that was the reason behind their resignations.

If you have a requirement selling Sterling it may be wise to take advantage of current levels. If you are looking at risk vs reward. The risk of a substantial fall in Sterling value definitely outweighs the potential for gains at present.

For more information on how future data releases could affect your currency requirement, call our trading floor on 01494 725 353 or email me here.

Exchange rates on this page are interbank rates and indicate where the market is trading to show the performance of a currency pair. They are not indicative of the rates which we offer. The information on this web site is provided free of charge for information purposes only. It does not constitute advice to any person on any matter. Foreign Currency Direct plc. ("FCD") makes every reasonable effort to ensure that this information is accurate and complete but assumes no responsibility for and gives no warranty with regard to the same.