After quitting, Boris Johnson says Brexit 'dream is dying'

Media playback is unsupported on your device                  Media caption David Davis explains why he resigned

Broader markets are Dollar-bearish, but the Sterling can't pull itself upwards as Brexit concerns continue to weigh.

May's office said in a terse statement that the prime minister had accepted Johnson's resignation and would name a replacement soon.

May will bring her Brexit deal to the Parliament later this year, when conservatives could vote against the agreement, Bloomberg reported.

Foreign Secretary Boris Johnson quit on Monday over May's plan for Brexit, which includes a free-trade area for goods but little detail on the approach to services.

That vision was far from the "hard Brexit" favored by Johnson, Davis, and others in May's cabinet.

He was due to co-host a summit on the Western Balkans in London on Monday but did not show up. Economic data for the United Kingdom continues to be a bull trap, and as the BBC's latest survey noted, "While the modest pick-up in domestic activity points to a slight rebound in growth from a weak first quarter, there remains little evidence in the current data to suggest a sustained upturn in the UK's economic growth prospects". A third member of the government, Steve Baker, a junior minister in Davis' Department for Exiting the European Union, also resigned.

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"Fantastic news. Well done David Davis for having the principal and guts to resign", Brexit campaigner and Conservative lawmaker Andrea Jenkyns said on Twitter. Britain and the European Union agree there must be border infrastructure or checks along the now invisible frontier, but working out how to achieve that has been a major stumbling block in negotiations.

During a 12-hour meeting on Friday, May's fractious Cabinet - including Davis - finally agreed on a plan for future trade ties with the EU. "We need to make sure this is now a game changer for #Brexit".

"I'm proud of both David Davis and Boris Johnson for standing by their principles", Scottish Conservative lawmaker Ross Thomson said on Twitter.

Former Ukip leader Nigel Farage tweeted: "Bravo @BorisJohnson".

Asked whether he would support a leadership challenge against Prime Minister May, Rees-Mogg refused to rule out the prospect but said a change in policy was more important than a change in leadership.

"With her government in chaos, if she clings on, its clear shes more interested in hanging on for her own sake than serving the people of our country", Corbyn said.

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