Raab resignation tanks pound:
Dominic Raab is the most prominent in a series of resignations of senior Conservatives, following Theresa May’s proposed Brexit deal with the EU.  The news comes after Jeremy Corbyn confirmed that the Labour Party would not support the deal . Further backlash has included the MP for North East Somerset Jacob Rees-Mogg writing a letter of no confidence against Theresa May . These recent events have triggered a sudden loss of confidence in the future prospects of the UK economy, as shown by the pound falling more than a percent against the dollar in the immediate aftermath of Raab’s announcement . Moreso, events in the UK have been a major contributing factor in the slide in global markets, with major indices in Wall Street down after the opening bell, and all major European indices in the red. A major issue with Theresa May’s proposal is that the UK would potentially remain tied in to the EU customs union for a number of years, likely to draw the ire of Brexiteers .
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 Maidment, J. and Graham, C. (2018). Brexit deal latest news: Jacob Rees-Mogg submits letter of no confidence and calls on Theresa May to ‘stand aside’. [online] The Telegraph. Available at: https://www.telegraph.co.uk/politics/2018/11/15/brexit-deal-latest-news-theresa-may-braced-backlash-commons/ [Accessed 15 Nov. 2018].
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