Forex

Sterling firms in anticipation of Johnson's cabinet reshuffle

2020-02-14 21:33:07 GMT (Economies.com)

The British pound stabilized against most major currencies on Friday, amid anticipation for the British PM Boris Johnson decisions on the cabinet reshuffle.

 

The Chancellor of the Exchequer, Sajid Javed, announced his resignation yesterday, and a banking figure was nominated after him.

 

This came as Johnson prepares a cabinet reshuffle to be appointed to draft the coming plans for the UK after implementing the Brexit on January 31.

 

Johnson wants Conservative figures in his government during the transitional period, which came after the Brexit and will continue until December 31.

 

The United Kingdom officially left the EU on January 31, to end a more than 40 years membership in unified bloc.

 

At 21:01 GMT, GBP/USD held at 1.3047, after hitting a high of 1.3064 and a low of 1.3002.

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