Earlier today, British Prime Minister Boris Johnson’s government lost its effective one-member majority in the House of Commons. The deed was done by Phillip Lee, the Member of Parliament for Bracknell, who decided to leave the Conservative party for the Liberal Democrats after representing the Conservatives for over 27 years.
All of this occurred only moments before a series of important votes and an emergency debate on the topic of the UK’s departure from the European Union. The MP argued that his decision was completely valid on the basis that Boris Johnson’s government “is aggressively pursuing a damaging Brexit”. Some speculate that this single decision was enough to spike the pound against the dollar. The development could spell trouble for a no-deal Brexit.