The Pound is almost flat on the day, following yesterday’s announcement that Boris Johnson will be the UK’s next prime minister. The lack of movement could perhaps indicate resignation from the markets, facing what promises to be a long, hot summer of Brexit intrigue.
Uncertainty, related to Mr Johnson’s do-or-die rhetoric, in relation to negotiations with the EU, appears to be priced in already. Investors are now awaiting concrete developments, before triggering the next significant Sterling movement.
Photo by Jordhan Madec.