Yesterday, the pound dropped as much as 0.7 percent after Johnsons’ resignation. The pound pared losses among declining concerns that the resignations will immediately push May to a confidence vote.
Johnson spoke for angry Conservative Brexit-backers in his resignation letter to May when he criticized that voters weren’t going to get the things he had promised them when he campaigned to leave the EU. “That dream is dying, suffocated by needless self- doubt,’’ he wrote. “It is as though we are sending our vanguard into battle with the white flags fluttering above them.’’
In response, May stated, “If you are not able to provide the support we need to secure this deal in the interests of the U.K., it is right that you should step down,’’ she wrote.