New photo Pound nosedives after Dominic Raab quits as Brexit Secretary

The pound tumbled today after Brexit Secretary Dominic Raab's resignation sparked fears the UK could leave the EU without a deal.

Sterling tumbled 1.8% to 1.27 US dollars and dropped 1.6% to 1.13 euros. At one point today it was down 1.9%, the biggest fall since June 2017.

Mr Raab sensationally quit the cabinet this morning, saying he cannot support Theresa May's plan for Brexit.

His resignation was followed by that of Work and Pensions Secretary Esther McVey, who said Mrs May's Brexit deal 'does not honour the result of the referendum'.

The pound fell sharply against the US dollar seconds after Dominic Raab's resignation

Sterling stablised around the 1.28 dollar mark but experts say it remains 'under pressure'. This image shows the currency in the 24 hours up until 3pm today

Experts said it will be a pivotal day for the Prime Minister and sterling, whose fortunes now appear linked to her ability to remain in post.

James Hughes, chief market analyst at Axi Trader, said: 'Sterling previously moved on clarity rather than positive and negative headlines.

'This has now changed and it seems sterling is now a barometer of the PM's ability to hold onto her job.'

He added: 'If the discontent and resignations continue then the pound will remain under pressure.'

David Cheetham, chief market analyst at online trading group XTB, said the currency reaction was 'reminiscent of the Chequers deal in the summer where initial support from the Cabinet has proved short-lived for Theresa May'. 

Nomura analyst Jordan Rochester said: 'Raab resigning just now changes the ballgame. [It's] hard to be optimistic on the pound in the short term. 

'But equally Theresa May has survived much worse. It's whether we get a flood of (ministerial) resignations to follow.' 

Housebuilders, retailers, and domestic banks all sank and the FTSE 250 tumbled one per cent in early deals, while a slump in Sterling helped keep the exporter-heavy FTSE 100 afloat, up 0.3 percent shortly before 10am.

Housebuilders Barratt Development, Persimmon , Taylor Wimpey, Berkely Group all fell 4.9 to 6.7 percent, among the worst FTSE 100 fallers.

Bovis Homes, Redrow, Bellway and Crest Nicholson fell 4.2 to 6.4 percent on the mid-cap index.

The currency nosedived after Dominic Raab quit as Brexit Secretary. His resignation was followed by that of Work and Pensions Secretary Esther McVey (right)

Barclays shares fell 6.6 percent and RBS shares fell 6.2 per cent, with Lloyds down 4.4 per cent as domestic banks were hit by the resignation, which heightened political uncertainty.

Hours before Mr Raab's and Ms McVey's resignations, Shailesh Vara had quit as minister of state for Northern Ireland, saying Mrs May's agreement 'leaves the UK in a halfway house'.

The departures leave it even less likely that Mrs May will be able to get her agreement with the EU through Parliament and could see her party move to oust her as leader.

The pound had ended higher on Wednesday after the Prime Minister said she had won over her divided cabinet following a five-hour meeting.

But this morning's resignation sent jitters through money markets.

https://textbacklinkexchanges.com/category/the-sun-world/
https://textbacklinkexchanges.com/pound-nosedives-after-dominic-raab-quits-as-brexit-secretary/
News Pictures Pound nosedives after Dominic Raab quits as Brexit Secretary 

You don’t have to pack away your bikini just because you’re the wrong side of 20. These body-beautiful stars reveal their secrets to staying in shape and prove you can smoulder in a two-piece, whatever your age. Read on and be bikini inspired!

TEENS
Hayden Panettiere
Size: 8
Age: 18
Height: 5ft 1in
Weight: 8st

To achieve her kick-ass figure, Hayden – who plays cheerleader Claire Bennet in Heroes – follows the ‘quartering’ rule. She eats only a quarter of the food on her plate, then waits 20 minutes before deciding whether she needs to eat again.

Hayden says: “I don’t have a model’s body, but I’m not one of those crazy girls who thinks that they’re fat. I’m OK with what I have.”

Nicollette says: “I don’t like diets – I see it, I eat it! I believe in eating healthily with lots of protein, vegetables and carbs to give you energy.”

kim cattrall

Size: 10-12
Age: 52
Height: 5ft 8in
Weight: 9st 4lb

SATC star Kim swears by gym sessions with Russian kettle bells (traditional cast-iron weights) and the South Beach Diet to give her the body she wants. To avoid overeating, Kim has a radical diet trick – squirting lemon juice on her leftovers – so she won’t carry on picking.

Kim says: “I am no super-thin Hollywood actress. I am built for men who like women to look like women.”
https://i.dailymail.co.uk/1s/2018/11/15/09/6216056-0-image-m-36_1542274484752.jpg