GBPUSD moved upwards in response to the British Prime Minister’s resignation.
The Pound Sterling is consolidating against the USD on Friday after a slight growth the day before. The current quote for the instrument is 1.1936.
British politics took the stage yesterday. British Prime Minister Boris Johnson has quit after finding himself in the crosshairs for promoting Chris Pincher, being aware of his behaviour
About a month ago, British politicians tabled a motion of no confidence in Johnson. Johnson managed to handle the motion, but the number of votes was very close.
Boris Johnson has served as Prime Minister since July 2019. He helped the country complete the Brexit procedure.
So, Johnson will quit, but only after the Conservative Party finds a new leader. At the same time, Johnson guaranteed that government policy wouldn’t change.
It’s difficult to say what exactly made the Pound enthusiasts happy – whether it was the end of the political scandal, which has surfaced recently, or a possible local change in the policy of the state. Most likely, politics will remain one of the key catalysts for the Pound in the near future.
Source: Roboforex
