UK PM May to issue a statement at 10.15 GMT, Snap general election on the cards?

Livesquawk reporting latest headlines, citing that the UK PM Theresa May is expected to issue a statement in Downing Street at 10.15 GMT today.

Chatter is doing the rounds that the PM may call for a snap election in her statement. However, her spokesman said on March 20 that a snap general election "isn't going to happen."

According to BBC's political editor, the PM only calls these types of announcements for most serious matter.

Meanwhile, the pound slumps almost 50-pips on the above headlines, knocking-off GBP/USD to fresh daily lows of 1.2530.