Sterling dips notably as hit by another resignation in Prime Minister Theresa May’s cabinet. The rumor has come true as Foreign Minister Boris Johnson finally resigns.
Statement from Downing Street: “This afternoon, the prime minister accepted the resignation of Boris Johnson as foreign secretary. His replacement will be announced shortly. The prime minister thanks Boris for his work.”
Now, we’ll see if the news has lasting impact on the pound, or it’s just a knee jerk action like that following David Davis resignation. But judging from the current price action, Boris resignation seems to be taken more seriously by the markets
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