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Theresa May’s resignation seems inevitable
Theresa May’s resignation seems inevitable

As it turns out, the failure to execute at the helm of a government can be a reason for "resignation" which could be a forced decision.

A state leader has to resign for weighty reasons: the rule triggers a political crisis, causes an economic slowdown, worsens a living standard of the population. It does work this way in some countries. Take at least the UK. Under the leadership of current Prime Minister Theresa May the country has been struggling to leave the EU for almost two years.

Having failed to reach a Brexit deal with the EU, Mrs. May has lost the support of almost the entire Cabinet, with the exception of two of its members. Theresa May’s mistakes put an end to her political career, experts say. Perhaps, the British Prime Minister will resign due to the efforts of members of the government at the end of June.

Such sentiments have a negative impact on the national currency. Brexit turmoil drives the pound lower. Extending weakness, the GBP/USD pair has already fallen to the level of 1.30. Experts warn of a deeper decline of the pound sterling under Brexit uncertainty. GBP/USD could slump to 1.26.  

Apart from domestic Brexit-related factors, the pound sterling has been weighed down by the weaker euro. Last week, the single European currency fell to the lowest level of 2018.  It happened after the ECB announced a new round of TLTRO.


Published: 2019-05-22 12:22:43 UTC
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