November 15, 2018 / 11:46 AM / a month ago

Sterling falls on report Eurosceptic Rees-Mogg to submit letter of no-confidence in PM May

LONDON, Nov 15 (Reuters) - The pound fell to a session low versus the euro on Thursday after the Telegraph newspaper said that pro-Brexit Conservative MP Jacob Rees-Mogg will submit a letter of no confidence in British Prime Minister Theresa May.

Sterling sank to a day’s low of 88.52 pence, down 1.5 percent on the day, after The Daily Telegraph’s chief political correspondent said on Twitter that senior eurosceptic lawmaker Rees-Mogg would submit the letter later on Thursday.

The British currency is set for its second biggest drop this year as opposition mounts at May’s draft deal for leaving the European Union with a series of resignations. (Reporting by Tom Finn; Editing by Saikat Chatterjee)

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