GBPUSD PLUNGE

In volatile trading, the British currency plunged one percent against the dollar to $1.2799 and 1.63%.The pound plunged against both the euro and the dollar on Thursday after British Brexit minister Dominic Raab resigned in protest at Prime Minister Theresa May's draft deal for leaving the European Union.

GBPUSD DAILY

Raab said "May's plan threatened the integrity of the United Kingdom and he could not support an indefinite backstop arrangement where the EU held a veto over Britain's ability to exit the bloc".

His resignation fueled a selloff in the British currency which was already struggling to gain traction after May said on Wednesday she had won over her divided cabinet following a five-hour meeting.