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Sterling traders had to endure another turbulent session on Wednesday as Prime Minister Theresa May tried to pull together the various disparate views of her cabinet in trying to sell the agreement with the EU over the thorny issue of the Irish border, as well as the outlines of the future trading relationship.
While she was able to achieve what she called collective approval from her cabinet to accept the deal, the gritted teeth consensus could well be tested in the coming days, and appeared to be reflected in her tired demeanour, almost as if to brace for the whirlwind that is about to come her way in the next few days, as various cabinet members come under pressure to resign.
The Prime Minister herself could well also find herself subject to a leadership challenge if reports of letters going into the 1922 committee, are anywhere close to being accurate and come to a total of 48.
Having cleared this particular hurdle, the deal will now have to go to a special EU summit, later this month, before being put before the House of Commons in early December when the real fun is likely to begin, as the 585-page agreement is put before MP’s to vote on.
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