The Great Britain pound fell today as the split in the ruling Conservative party led to concerns that Prime Minister David Cameron may have problems in holding his party together in voting for staying in the European Union.
Iain Duncan Smith, Secretary of State for Work and Pensions, announced an unexpected resignation on late Friday. He explained his decision with “unfair” cuts in welfare. Smith is a known Brexit supporter.
GBP/USD declined from 1.4458 to 1.4412 as of 11:03 GMT today, touching the low of 1.4374 intraday. EUR/GBP rallied from 0.7791 to 0.7827.
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