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Pound Spikes After May Says She Has “Full Support” Of Her Cabinet

Courtesy of ZeroHedge. View original post here.

Amid speculation and doubts that UK Prime Minister Theresa May could be forced to resign as soon as Christmas amid a mutiny of Tory MPs following her disastrous conference speech, which resulted in the pound's biggest weekly decline since last October’s flash crash, moments ago the UK Press Association reported that Theresa May said she is providing “calm leadership” with the “full support” of her cabinet, which sent the pound surging in kneejerk reaction.

Prime Minister Theresa May says she is providing "calm leadership" and she has the "full support" of her Cabinet

— Sky News Newsdesk (@SkyNewsBreak) October 6, 2017

"What the country needs is calm leadership and that’s what I’m providing with the full support of my cabinet," May told Sky News in an interview in her Maidenhead constituency.

Separately, the BBC reports that this morning the UK government has mounted an operation to show that nothing has changed in the Conservative Party in the last few days and that Theresa May's leadership remains on track and that she is, to use another of her famous phrases. just "getting on with the job."

Following the report, cable promptly spiked by as much as 30 pips, briefly regaining 1.31, before resuming a slide lower.


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