UK Cabinet Ministers rate PM Johnson’s chances of survival as 50/50 – Times

Anil Panchal FXStreet

“Cabinet Ministers believe there is ‘50/50’ chance that Boris Johnson will be forced out of office after four of his most senior aides quit Downing Street and his Chancellor publicly rebuked him,” said the Times while conveying political hardships for UK PM Johnson during early Friday morning in Asia.

Dan Rosenfield, UK Chief of Staff, joins Principal Private Secretary Martin Reynolds is among the four key diplomats from PM Johnson’s team that are leaving the boat, signals the news. The latest duo marked “mutual consent” for their departure after ‘Party gate’.

The others leaving No10 are Head of Policy Munira Mirza and Director of Communications Jack Doyle.

It’s worth noting that UK Chancellor Rishi Sunak was cited as rebuking PM Johnson due to his claims that Labour Party Leader Sir Keir Starmer was responsible for not prosecuting the pedophile Jimmy Savile.

Market implications

GBP/USD grinds higher around a two-week low after the previous day’s BOE actions and the latest political news. However, major attention is on today’s US employment details.

Read: Nonfarm Payrolls Preview: Win-win-win for the dollar? Low expectations, weak greenback point higher

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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