1922 Committee decision is an outside risk that could shake things up really quickly and in a big way
Aside from the usual cross-party talks and PMQs later, there's the 1922 Committee to look out for today as well. According to BBC political editor, Laura Kuenssberg, things could be starting to turn on its head now as more lawmakers feel that May has to go.
In the latest update, she notes that there was a narrow balance to stop another leadership challenge but that could all change and if it does, it will happen quickly.
For some context, May cannot be challenged under current rules after she won a leadership vote in December. However, the 1922 Committee is able to overturn said rules to call for another confidence vote. That is the key risk that is being pointed out above.
The general thinking is that if the committee manages to pull off a rule change, it would basically confirm that May's time is over - nobody is giving her a chance if another confidence vote is called - and we will see someone else take over from her.
Keep this in your back pocket for the time being as it could be a key risk factor in trading the pound over the next few sessions.
