Pound Eases As U.K. Foreign Secretary Boris Johnson Departs
July 09 2018 - 5:45AM
RTTF2
The pound trimmed its early gains against its major counterparts
in early New York deals on Monday, as U.K. foreign secretary Boris
Johnson resigned from his position, in the wake of conflict in the
Cabinet over Brexit.
Boris Johnson's resignation put Theresa May's government into
more chaos, amid her attempts to keep the UK within the single
market and customs union.
It follows the resignation of Brexit secretary David Davis on
Sunday.
The pound retreated to 1.3117 against the franc and 146.57
against the yen, from its early 3-week high of 1.3202 and near a
4-week high of 147.62, respectively.
The U.K. currency weakened to a 10-day low of 0.8873 against the
euro, off its early 4-day high of 0.8812.
The pound reversed from an early high of 1.3363 against the
greenback, falling to 1.3239.
The pound is likely to find support around 1.29 against the
franc, 145.00 against the yen, 1.30 against the greenback and 0.90
against the euro.
Sterling vs US Dollar (FX:GBPUSD)
Forex Chart
From Aug 2024 to Sep 2024
Sterling vs US Dollar (FX:GBPUSD)
Forex Chart
From Sep 2023 to Sep 2024