UK PM candidate Sajid Javid eliminated from contest to replace Theresa May

Eren Sengezer FXStreet

In the fourth round of Conservative MPs voting on the next leader, candidate Boris Johnson received 157 votes to remain in the lead in front of Michael Gove and Jeremy Hunt, who got 61 and 51 votes, respectively. On the other hand, Sajid Javid got eliminated from the race as he came last with 34 votes.

Although the GBP/USD pair seems to be pushing lower following these headlines and erasing its daily gains, it is likely that the pair is reacting to the Bank of England's cautious tone in its policy statement.

At the moment, the GBP/USD pair is up 0.3% on the day at 1.2680 while the EUR/GBP is adding 0.43% at 0.8915.

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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