UK politics: Boris Johnson said he will run for PM once May quits, GBP/USD remains pressured
|Former foreign secretary Borish Johnson said at an event in Manchester that he will present his candidacy for Prime Minister if "there is a vacancy." Johnson is a prominent member of the Conservative Party and considered to be the leading candidate to inherit incumbent Theresa May.
May is battling for her political survival. She met with the 1922 Committee, a group of Conservative backbenchers which may decided to change party rules in order to hasten her ousting. According to media reports, she may step down on June 15th.
Johnson supported Brexit and may adopt a tougher stance if he enters Downing Street.
GBP/USD is on the back foot throughout the day due to the high political uncertainty. It trades around 1.2800, the lowest since February. Support is seen at 1.2775.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.