UK: Brady says May will face confidence vote if she does not quit on Friday, GBP/USD pressured

Graham Brady, the chairman of the Conservative Party's 1922 Committee said that if PM Theresa May does not announce her resignation date tomorrow, his committee will force a new confidence vote in her leadership.

The PM has resisted calls for her to quit and lost one minister, Andrea Leadsom, which refused to support the new deal on Brexit.

GBP/USD has been under immense pressure on the prospects of May's departure and fears she would be replaced by a hardliner such as her former Foreign Minister Boris Johnson. The currency pair has reached a new four-month low at 1.2605.