Former Conservative party chairman Grant Shapps talking to BBC 6 Oct

  • currently around 30 MPs, inc 5 former cabinet ministers, want PM May to resign
  • don't have one single candidate in mind to replace her
  • didn't want to make this public but whips leaked story to press
  • Tory MPs are "perfectly within their rights" to urge Theresa May to quit,

Yea yea, we know how it works. Now it's all over the press and you're on BBC radio talking about it.

Says Shapps:

"We did have a result that was not at all what anyone wanted, least of all what she wanted or anticipated, and... sometimes when things happen you have to take responsibility for them.

"This is a view I have held for quite some time and quite a lot of colleagues feel the same way, including five former cabinet ministers."

Protocol says at least 48 dissenting MPs required before a formal approach is made to the backbenchers 1922 Committee

The BBC has more on the story here

GBPUSD continues its move lower to post 1.3068. Next line in the sand 1.3050-55 before the larger target of 1.3000 which I still feel is attainable

EURGBP 0.8946 having had one test of 0.8950 but not breached as yet.