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Could Brexit Secretary David Davis quit?

7th June 2018

Today in Brexit: Theresa May goes head to head with her Brexit secretary who has failed to deny rumours he could resign.

Brexit Secretary David Davis, who is due to meet his EU counterpart Michel Barnier on Monday, is said to be furious over May’s plan to keep the UK tied to EU customs rules for an open-ended period of time. The row escalated with Davis and his allies failing to quell speculation he could quit over the issue. The Timesreported that pro-Brexit cabinet members were kept in the dark about May’s plan until the last minute. Davis and May are due to confront one another at May’s Brexit “war cabinet” meeting later today. We'll be watching how the political drama unfolds and whether markets take the spat as negative for the Pound or as a positive given the fact May is now attempting to put firmer plans in place.

Rates are currently:
GBP/EUR 1.13
EUR/GBP 0.865

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