Comments by pro-Brexit lawmaker Jacob Rees-Mogg
- But UK PM May needs to give up on Chequers proposal on Brexit
Further underscoring that May's position right now will not come under immediate scrutiny or challenge, and that should provide some added relief to the negativity seen from the resignations earlier today.
The Brexit rhetoric for sterling right now is basically striking a balance between a softer Brexit proposal (sterling positive) and minister resignations which would threaten May's position as prime minister and leader for the Conservatives (sterling negative).
The more conciliatory tone from Davis and further comments here is playing down the latter factor, and is helping to give sterling a bit of a boost on the day. Although, if May pushes forward with a softer Brexit proposal then we may see less friendly voices be heard in due time - and even more so if her proposal isn't going to get the UK anywhere with the EU.
