UK: Conservative lawmaker Penrose resigns, intends to vote against PM Johnson

Eren Sengezer FXStreet

Conservative lawmaker and Britain's 'anti-corruption champion' John Penrose announced on Monday that he resigned from his role, as reported by Reuters.

"I’m sorry to have to resign as the PM’s Anti-Corruption Tsar but, after his reply last week about the Ministerial Code, it’s pretty clear he has broken it," Penrose stated on Twitter. "That’s a resigning matter for me, and it should be for the PM too."

Latest from lawmakers on the upcoming confidence vote

UK Foreign Minister Truss says she backs PM Johnson in the confidence vote.
UK Finance Minister Sunak says he backs PM Johnson in the confidence vote.
UK's Gove says he backs PM Johnson in the confidence vote.
Former UK Foreign Minister Jeremy Hunt says he will be voting for a change at the confidence vote in PM Johnson.

Market reaction

These headlines don't seem to be having a significant impact on the British pound's performance against its rivals. As of writing, the GBP/USD pair was up 0.5% on the day at 1.2550.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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