Citing three Conservative lawmakers, Reuters reported on Monday that the Conservative Party’s 1922 Committee will hold an inner election of a brand new government subsequent Monday.

The new government will resolve whether or not to change the rules surrounding the grace interval following the no-confidence vote.

Market response

The British pound is having a tough time staging a restoration amid political jitters. The GBP/USD pair, which touched its lowest stage since March 2020 at 1.1876 earlier within the day, was final seen shedding 0.45% on the day at 1.1905.


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