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Boris quits: ‘Currency markets paying successor back-handed compliment’

by LLB Reporter
7th Jul 22 10:37 am

The rise in the value of the Pound is a back-handed compliment for the regime that will take the place of the Johnson Government.

Confidence has deserted the PM and the market is implying that what comes next can only be better. Sterling began to rise as soon as the Prime Minister indicated he would finally leave office but, as is so often the case, a little initial euphoria could give way to the more mundane, cold, hard realities of the current economic malaise, which could let a little air out of the balloon.

James Bentley, Director of Financial Markets Online, said: “One such scenario would be if he’s allowed to cling on in the interim until the Conservative Party conference. His critics would say he’s done enough damage already and there won’t be a person alive who thinks he retains that kind of ‘good leaver’ status. The benefit of the doubt resigned long ago, even if he didn’t.”

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