|

Breaking: UK Prime Minister Boris Johnson resigns

In a statement delivered outside Number 10 Downing Street on Thursday, British Prime Minister Boris Johnson announced his resignation, saying that it was clear the Conservative Party needed a new leader.

Key takeaways

"The timetable will be announced next week."

"I will serve until there is a new leader in place."

"The reason I have fought so hard is because I felt it was my duty."

"I am immensely proud of my achievements."

"We will continue to back Ukraine."

"The economic scene is difficult."

"It is painful not to see my term through."

"In politics no one is indispensable."

Market reaction

The GBP/USD pair showed no immediate reaction to this development and was last seen rising 0.4% on the day at 1.1980.

Author

More from FXStreet Team
Share:

Editor's Picks

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.

Crypto Today: Bitcoin, Ethereum, XRP risk further decline as market fear persists amid slowing demand

Bitcoin holds $90,000 but stays below the 50-day EMA as institutional demand wanes. Ethereum steadies above $3,000 but remains structurally weak due to ETF outflows. XRP ETFs resume inflows, but the price struggles to gain ground above key support.

Week ahead – US CPI might challenge the geopolitics-boosted Dollar

Geopolitics may try to steal the limelight from US data. A possible US Supreme Court ruling on tariffs could dictate market movements. A crammed data calendar next week, US CPI comes on Tuesday; Fedspeak to intensify.

XRP trades under pressure amid weak retail demand

XRP presses down on the 50-day EMA support as risk-averse sentiment spreads despite a positive start to 2026. XRP faces declining retail demand, as reflected in futures Open Interest, which has fallen to $4.15 billion.