020 7898 0500Economic data was a little thin on the ground yesterday to say the least. Indeed, sterling’s fall against the euro and dollar was largely down to the political unrest surrounding the Conservative Party and Priti Patel’s undisclosed meetings in Israel.
After travelling back from Nairobi, Patel met with Theresa May and offered her resignation which was accepted. Although this was expected, it does put the UK government in an uncomfortable position, especially when coupled with Foreign Secretary Boris Johnson’s recent comments about British-Iranian Nazanin Zaghari-Ratcliffe.
The markets will no doubt be focused on whether there are any further reports of unrest in the Cabinet. Finally, there is some confusion over David Davis’s recent remarks regarding the 58 sectoral analyses. Having initially said it would take time to publish the Brexit impact documents, he then claimed they didn’t exist – following a binding vote in the Commons.
