"Prime Minister Boris Johnson finally bowed to the wishes of many of his colleagues in Westminster and announced his resignation from the post.

He said that he intends to stay on until a successor is confirmed, which could take until the Autumn.

This decision has received further criticism from both sides of the House of Commons, with Opposition Leader Sir Keir Starmer threatening to call a vote of no confidence to ensure that Johnson leaves immediately.

In the end, Johnson was forced to admit that his position had become untenable, something that had become obvious to his Cabinet colleagues days ago and was perfectly illustrated by sixty of them feeling obliged to resign their own positions.

Johnson swiftly reshuffled his Cabinet replacing those who have recently departed. Nominations for the role leader have already begun with candidates needing to have the support of eight MPs in order to stand."

Beyond Currency Market Commentary:

Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.