The pound falls to a month low after unveiling a conspiracy to overthrow May
The British pound has hit its lowest level in a month against the dollar and also against the euro after a conspiracy by several conservative deputies to topple Prime Minister Theresa May was revealed.
The British currency is down 0.4% against the US dollar, to $ 1.306, and 0.43% against the euro, to 1.115 euros, on a day in which the stock market remains practically flat.
Internal war in the Tories
Investors reacted nervously to internal struggles in the Conservative Party after honorary former chairman Grant Shapps admitted that about 30 deputies want to oust May.
These parliamentarians consider that the “Tory” leader lacks credibility and authority after losing the absolute majority in the June 8 general election, which she called precisely in order to strengthen her mandate.
Although the challenge of this group of deputies is unlikely to come forward, as a greater proportion is needed to instigate internal elections, financial markets predict that these tensions will lead to a depreciation of the pound.
‘Knives’ against May
“The sound of sharpened knives has increased” since May’s rash speech at the Conservative Party’s annual congress on Wednesday, said Connor Campbell, a financial analyst at Spreadex.
May’s speech, in which he called for “renewing the British dream” of “opportunities and aspiration,” was ruined by a sharp fit of cough that left her sharp, the performance of a comedian who gave her a notice of dismissal and the fall of the letters of the electoral message that had behind.
The weakness of the British Conservative Party also coincides with the rise of the Labor Party of Jeremy Corbyn, who made remarkable progress in the past elections with a social-democratic program and against austerity.
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