Free Trial
US OUTLOOK/OPINION

CIBC In Line For Core CPI, Above Consensus For Headline

EURJPY TECHS

Sights Set On Key Resistance

COMMODITIES

Oil Sees Sharp Fall Whilst Gold Opens Bull Trigger

USDJPY TECHS

Remains Below Resistance

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
UK PRESS

Multiple outlets are reporting that Chancellor of the Exchequer Nadhim Zahawi, Transport Secretary Grant Shapps, Northern Ireland Secretary Brandon Lewis, and Chief Whip Simon Hart are set to tell PM Boris Johnson to resign as Conservative leader once the PM returns to Downing St from his evidence session in front of the Liaison Committee.

  • Shapps has been a long-term ally of the PM, and the inclusion of such high-profile figures as the chief whip is a likely sign that Johnson has lost the support of the majority of his Conservative party MPs.
  • There has been speculation that Johnson could seek to dig his heels in and trigger a snap general election rather than resign or face a vote of no confidence.
  • This could lead to an extremely difficult constitutional situation, given that the PM would not hold the confidence of parliament, therefore putting the monarch in the unenviable position of either acquiescing to the snap election or using the so-called 'Lascelles principles' and seeking an alternative interim PM that could command a working majority in the Commons.
  • Also unconfirmed stories that the 1922 Committee has agreed to rule change to allow another confidence vote against PM Johnson: Noa Hoffman at the Sun tweets: "Hearing the 1922 rules have now officially been changed", Alexander Brown at the Scotsman "Am told Tory rebels reckon they're sorted on the 1922 rule change, so will be able to have a new vote of confidence as soon as Monday"

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.