GBPUSD was corrected a little bit and stopped moving in anticipation of news.
On Monday morning, the British Pound is trading carefully against the USD. The current quote for the instrument is 1.2717.
So, the date of the British Prime Minster Theresa May resignation was announced. It is set to happen on June 7th and the new head of the British Government may be announced as early as on June 20th. There are several candidates, but the strongest one is probably Boris Johnson, who is a quite famous politician.
However, there is only one “but”: it’s obvious that Johnson is a pushback against everything that May was doing as he was constantly criticizing her actions. There is no guarantee that Johnson will continue May’s policy. He may start doing the opposite and escalate political crisis in the United Kingdom. No one can be sure that the new Prime Minister will be able to handle the British lords, who didn’t want to exit the European Union
It appears that May did everything and a little bit more for the Brexit and the United Kingdom. She was fighting for the “soft” exiting scenario “till the last breath”, but couldn’t come up with the scenario to cater for the lords’ wishes.
It’s interesting how the Pound responded to May resignation. Last Friday, when the news appeared, the British currency moved upwards, but not as quickly as it could have. However, it is barely moving today, which means that market players aren’t sure that May’s successor will be better than she was. So, the Pound is going to have a lot of interesting ahead.
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