Leadership contest against UK PM May has been triggered - RTRS

According to the latest headlines floating on the wires, via Reuters, leadership contest against the UK PM Theresa May has been triggered as the threshold of 15% of Conservatives has been exceeded.

The UK leadership contest ballot is reported to be held at 1800 to 2000 GMT today and the announcements will be made as soon as possible in the evening.

The news prompts some fresh selling around the British Pound, with the GBP/USD pair hitting a fresh 20-month low level of 1.2477 in the last minute.