Brexit Deal: Theresa May Fights for Approval as Ministers Quit

• Brexit Deal: Theresa May Fights for Approval as Ministers Quit

Uk Prime Minister, Theresa May, fought on Thursday for approval of draft Brexit deal agreed with the European Union after her secretary on Brexit and other ministers quit to protest the agreement.

Theresa May had announced on Tuesday that her team agreed to the terms of the draft agreement with the European Union.

Brexit Minister, Dominic Raab and work and pensions minister Esther McVey quit after the announcement, saying they could not support the deal.

Their departure coupled with the resignations of two junior ministers shakes the already divided government and likely to impact Brexit strategy going forward.

The possibility of the UK leaving the EU without a deal is now high, with some lawmakers questioning if the Prime Minister’s government will even survive with the deal.

Raab is now the second Brexit secretary to quit over Brexit deal, the biggest shift in the UK policy in more than four decades.

The pound fell against the US dollar to trade below the 1.29 levels following the disagreement as projected on Tuesday.

Pound, without a clear Brexit path, should extend its bearish move to 1.26 support level as shown above. However, with China sending a response to the US on a possible trade deal, the move could be affected depending on US reaction to the response, especially President Donald Trump.

The growing uncertainty is now expected to weigh on UK assets as investors look to contain risk exposure.