U.K. Prime Minister Theresa May faces another test of survival this week with mounting opposition within her own close circle of senior lawmakers.
This close-knit team of politicians — called the cabinet — is due to meet Tuesday in an attempt to find a solution to the so-called Irish backstop, which has been the main stumbling block for talks over the last few months.
After another ministerial resignation on Friday, several cabinet members are now adding further pressure on the prime minister to come up with a plan that will not make the U.K. indefinitely part of the EU's customs union. Four lawmakers in favor of staying in the EU are reportedly considering their positions, according to Sky News.
Hit by uncertainty, sterling fell more than one percent against the dollar on Monday morning, plunging to $1.128. A strong dollar also contributed to the depreciation in sterling.