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Pound Climbs and UK Stocks Rise on Reports of Johnson Resignation

  • Long-term investors will keep selling sterling, says Mizuho
  • Inflation, BOE policy are seen as bigger drivers of the pound
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WATCH: The pound strengthened on reports that Prime Minister Boris Johnson is planning to resign. Dani Burger reports.Source: Bloomberg
Updated on

The end of Boris Johnson’s run as prime minister may ease the sense of political chaos, but it won’t fix any of issues depressing UK markets. 

That’s the view from investors and market strategists, who said they’re still bearish on British assets as Johnson announced he will step down. The market reaction was positive, with the pound approaching $1.20. The FTSE 100 Index gained alongside other global stock indexes.