Prominent Brexiteers Boris Johnson, Liam Fox and David Davis kept their crucial roles within the UK’s European Union divorce.

As well as the Foreign, Brexit and International Trade Secretaries keeping their jobs, it was reported a “no deal minister” will be hired to join the Cabinet.

Pound sterling made a slip dip against the dollar as the Cabinet reshuffle took place, but didn’t mean too much, according to Marc Chandler of Brown Brothers Harriman.

He told Bloomberg: “It doesn’t mean that much for sterling unless it tells us about the balance of power between the soft Brexit camp, led by Philip Hammond, the Chancellor, and the hard exit camp, led by David Davis and Boris Johnson.

“Sterling’s weakness is a function of the dollar, and as long as we trade between 1.35 and 1.36, I think neutral – we want to watch the breakout of that range.”

Pound sterling is down 0.13 percent against the dollar to 1.3552.

Mr Chandler added that talk of a transitional period as Britain leaves the EU will be at the forefront of financiers’ minds.

The pound is flat against the euro at 1.1333, a zero percent movement on the day so far. 

The flattening of the pound against the euro comes as Brussels attempts to squeeze the EU’s remaining 27 members into paying more money to the bloc’s joint budget, to make up for the €13bn Brexit black hole.

Jean-Claude Juncker, the European Commission’s president, told European governments to remove the imposed cap of one percent of the EU’s gross national invoice on the bloc’s common budget.

He described the extra money expected from members as the equivalent of “one cup of coffee a day” for European taxpayers.

Mr Juncker said: “I think Europe is worth more than one cup of coffee a day.”