Update: Sterling sinks as Brexit Secretary Raab resigns

Raft of resignations following draft deal

Sterling has fallen further in mid-morning trading, after Brexit Secretary Dominic Raab resigned less than 24 hours after signing the draft Brexit agreement.

In his resignation note, Raab cited the "indefinite backstop arrangement" and the "regulatory regime" proposed for Northern Ireland as they key reasons for leaving. He said: "I cannot support the proposed deal for two reasons. First, I believe that the regulatory regime proposed for Northern Ireland presents a very real threat to the integrity of the United Kingdom. "Second, I cannot support an indefinite backstop arrangement, where the EU holds a veto over our ability to exit." Brexit Blog: Brexit Secretary Dominic Raab resigns over EU deal Following Raab's resignation, Esther ...