ITV reporter says he is probably going to quit

From ITV reporter Robert Peston:

Friends of @BorisJohnson think he is quitting. Not definite. But he is ensconced in his official residence with his advisers, which sends a powerful signal. As one said, "very hard for him not to quit now that Davis has, given that everyone knows they both hate May's Brexit plan"

Cable quickly down to 1.3310.

The trade today has been to buy dips on Brexit worries. Davis' resignation caused a drop but it was erased a few hours later.