May admitted that despite having done her best, she has “not been able” to deliver Brexit. And announces to resign as leader of the Conservative party on Friday June 7. The process for electing the new leader will start the following week. May will stay as caretaker Prime Minister until a new leader is found.
She quote British humanitarian Nicholas Winton that “compromise is not a dirty word”. And she urged that consensus on Brexit can only be reached if all sides are willing to compromise.
Reaction in GBP/USD is rather muted as May’s departure is well priced in.
