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Pound Recovers As Boris Johnson Becomes PM, Capped by Bearish Data

The British pound is rallying on Tuesday after it was confirmed that former London Mayor Boris Johnson would become Britain’s new prime minister. In addition to a higher pound, European markets appeared to cheer on the pro-Brexit politician as leading indexes recorded 1% gains. But that did not prevent disappointing data from capping the currency’s ascent.

Pound Reverses 3-Day Rally Amid Upbeat US Manufacturing Report

The British pound today fell against the US dollar reversing all of Friday’s gains amid a lack of any major releases from the UK docket. The GBP/USD currency pair fell due to the absence of catalysts to prop up the Sterling with the pair’s performance being driven largely by investor sentiment.

British Pound Rallies on Johnson Campaign Launch, Later Retreats

The British pound today rallied to new weekly highs against the US dollar following Boris Johnson‘s launch of his campaign to become the next Conservative Party leader. The GBP/USD currency pair later fell as the US dollar recovered and investor sentiment shifted away from the pound amid the leadership uncertainty occasioned by Theresa May‘s impending departure.

Pound Rallies on Upbeat Jobs Data Amid Leadership Concerns

The British pound today rallied higher following the release of upbeat UK jobs data in the early London session despite the political uncertainty in the country. The GBP/USD currency pair’s rally was limited by investor fears that a pro-Brexit leader could succeed Theresa May as Prime Minister and push for a hard Brexit.

Sterling Falls on Weak UK Data As Tory Leadership Contest Heats Up

The Sterling pound today fell almost to one-week lows after the release of a raft of disappointing macro data from the UK docket such as the April GDP print. The GBP/USD currency pair remains under pressure as the Conservative Party‘s search for a successor to the outgoing Prime Minister Theresa May officially kicks off.

British Pound Drops As Brexit Uncertainty Deepens, Later Recovers

The British pound today fell to new 4-month lows against the US dollar as the uncertainty surrounding the Brexit issue deepened. The GBP/USD currency pair hit new lows as uncertainty reigned over who would succeed Theresa May as Prime Minister and whether they would support a no-deal Brexit.

US Dollar Ends Week Second Weakest After Great Britain Pound

The US dollar was one of the weakest currencies during the past trading week due to escalation of the trade war between the United States and China. While the greenback usually thrives in the environment of risk aversion, that was not the case this time. The weakest currency was the Great Britain pound, though.

Pound Falls As Theresa May Set to Resign on June 7, Later Recovers

The British pound today fell from daily highs after the British Prime Minister Theresa May announced that she would step down on June 7 from her post as party leader. Her decision took investors by surprise given that she had stood her ground before in the face of fierce opposition from within her party and the opposition for a long time.

Pound Hits New 4-Month Lows As PM May Is Pressured to Resign

The British pound today hit new 4-month lows against the US dollar as U.K. leaders criticized Theresa May‘s new proposed Brexit deal, which she outlined yesterday. The GBP/USD currency pair hit new lows as news reports indicated that multiple factions within the Conservative Party were planning to force the Prime Minister to resign.

Sterling Rallies As PM May Offers Second Referendum, Later Falls

The British pound today rallied higher after news emerged that the British Prime Minister Theresa May would offer MPs a chance to vote for a second referendum. The GBP/USD currency pair rallied from news 3-month lows triggered earlier in the day after the opposition Labour Party confirmed that it would vote against PM May’s latest Brexit deal.

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