Coughing Fits, Stunts, And Letters Falling Off The Wall: Pound Falls As May Meets Her Waterloo

Well, it’s probably worth noting that the pound is under some pressure on Thursday.

Weighing on sentiment is Theresa May’s or, more specifically, the possibility that she’s on her way out after Wednesday’s disaster of a speech which left her “extremely distraught.” Here’s the Telegraph:

The Prime Minister had hoped the speech would effectively relaunch her premiership and kickstart a Conservative revival with policies to cap energy prices and spend billions on new council houses.

However, the policies were largely overshadowed after a professional prankster walked on stage unchallenged to hand her a fake P45 and a heavy cold left the Prime Minister almost unable to finish the speech following a series of coughing fits.

The event ended with letters falling from the slogan behind the stage and the Prime Minister being comforted by her husband.

The Telegraph goes to report that as many as 30 U.K. lawmakers are apparently ready to to sign a letter calling for her resignation. For those who missed the speech, here are the highlights “courtesy” (and that’s in scare quotes for a reason) of RT:

Former junior minister and Conservative lawmaker Ed Vaizey called for the Prime Minister’s head (figuratively of course) in BBC radio interview today saying that “quite a few people are firmly of the view she should resign.” He continued: “The Tory party conference was the great opportunity to re-boot the party and therefore re-boot the country to give a clear sense of direction and that didn’t happen so yes, I am concerned”

Right. Ed is “concerned.” And so are traders:

Perhaps SocGen’s Kit Juckes summed it up best:

The Telegraph says that Theresa May could be ousted as Prime Minister by Christmas after her ‘disastrous’ conference speech. If collapsing props, coughing fits and a comic interruption are all that matter than politics truly is all about style rather than substance.