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According to some rumours, the UK Brexit Secretary Dominic Raab might resign in protest if there is no time limit or satisfactory exit clause on the Irish backstop.

This comes after the Telegraph revealed this morning that Raab has privately demanded the right to pull Britain out of the EU’s Irish backstop after just three months, setting back the prospect of clinching a Brexit divorce deal this week.

The headlines prompted some fresh selling around the British Pound, with the GBP/USD pair hitting a fresh session low level of 1.2965 in the last minute.