British Pound trims losses and settles flat

The British pound remained flat against most of the majors on Tuesday as the primary vote of the Conservative Party candidates took place today, as the winner of which will be the next Britain's prime minister, succeeding Theresa May.

Initial results revealed that Boris Johnson is the favored candidate for the Conservative Party leadership and the prime minister position to negotiate the UK's exit from the European Union (Brexit).

Johnson said after the resignation of May that the United Kingdom has to prepare to get out of the EU, whether by agreement or not.

While the deadline for the exit of the European Union will expire on Oct. 31.

In terms of trade, at 19:32 GMT, GBP/USD stabilized at 1.2677, with a high of 1.2708 and a low of 1.2663.