May to face leadership challenge in Parliament

In UK politics today, the 1922 backbench committee has finally received the 48 letters of no confidence needed to trigger an official leadership challenge. The Conservative party will, tonight, vote by ballot pledging their support either for or against May continuing as the UK’s Prime minister. UK equity markets have reacted negatively to the news with the pound managing to hold its current level. Market commentators believe the pound has remained stable because investors believe this vote will lead to the UK being unable to leave the EU on the 29th of March 2019 as previously agreed.