At least 145 UK conservative lawmakers publicly back Boris Johnson as the confidence vote begins

Ross J Burland FXStreet

Britain’s prime minister, beset by a scandal over lockdown parties, faces a decisive vote on Monday evening London time.
Conservative lawmakers have handed out to the PM Boris Johnson a potentially lethal blow to his leadership as they have triggered a no-confidence vote which could force him from his position as leader of the government a little more than two years after his landslide election victory.

After some distraction with the Ukraine way and a distraction from UK politics, the claims that Mr Johnson misled Parliament about lockdown-breaking parties held at Downing Street at the height of a coronavirus pandemic have resurfaced again.

It is reported that at least 145 UK conservative lawmakers publicly back Boris Johnson as the confidence vote begins, a Reuters tally shows.

Tory MPs have two hours to cast their votes in Parliament, and the result will be announced an hour after that, at 9 p.m. local time.

Market implications

This is unsettling for UK markets and the British pound which is sinking vs. the US dollar and could turn out to be fragile vs. the euro depending on the outcome.

GBP/USD H1 chart

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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