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Former BBC reporter and ITV News’ political respondent Robert Peston has recently tweeted out the latest developments surrounding the rumors UK’s Foreign Secretary Boris Johnson looking to resign from his position.

“Friends of @BorisJohnson think he is quitting. Not definite. But he is ensconced in his official residence with his advisers, which sends a powerful signal. As one said, very hard for him not to quit now that Davis has, given that everyone knows they both hate May’s Brexit plan,” Peston said, via Twitter.

The initial market reaction forced the GBP/USD pair to lose around 30 pips in a matter of minutes and the pair was last seen trading at 1.3325, adding 0.3% on the day.