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Earlier in the session, BBC political editor Laura Kuenssberg claimed that lawmakers in Prime Minister Theresa May’s party have reached 48 letters required to trigger a confidence vote.  

However,  the chairman of the backbench 1922 Committee, currently Sir Graham Brady, reportedly said that he hasn’t received enough number of letters yet.  

As of writing, the GBP/USD pair, which touched a fresh session low at 1.3190, was trading at 1.3220, losing 0.5%, or 70 pips, on the day.