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Birmingham Post
Birmingham Post
Business
Peter Walker & Alistair Houghton

Boris Johnson finally quitting as Conservative leader - pound trades higher as markets take stock

Boris Johnson Nadhim Zahawi Graham Brady

Boris Johnson is quitting as Tory leader after ministers and MPs - including new chancellor Nadhim Zahawi - made clear his position was untenable.

Mr Johnson looks set to stay as Prime Minister until a successor is in place, expected to be by the time of the Conservative Party conference in October.

At 9.23am the pound was trading higher on the news of Boris Johnson’s resignation – up 0.6% at 1.198 US dollars and 0.4% stronger at 1.174 euros.

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