No-confidence motion against Theresa May said to be underway

According to Brexit Central editor citing a "always previously reliable" source

Says that the source is stating that the 48 letters are now in and Downing Street is preparing for a no-confidence motion to be tabled against Theresa May as Tory party leader.

The pound is falling off the headline here. GBP/USD brought down to 1.2788 from 1.2810 levels earlier.