Sterling holds near day’s high after Johnson quits as PM

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Published: Jul 7, 2022, 12:07 GMT+00:00

LONDON (Reuters) - The British pound was unmoved and held near the day's highs versus the dollar on Thursday while UK stocks added to gains after Boris Johnson announced he would resign as prime minister.

Pound and U.S. dollar banknotes are seen in this illustration

LONDON (Reuters) – The British pound was unmoved and held near the day’s highs versus the dollar on Thursday while UK stocks added to gains after Boris Johnson announced he would resign as prime minister.

Sterling was last up 0.5% on the day at $1.1979, roughly where it was trading before Johnson resigned, while against the euro it was last at 85.1 pence, up 0.4% on session.

The FTSE 250 index of domestically focused UK stocks rose to fresh one-week high after Johnson’s statement.

(Reporting by Tommy Reggiori Wilkes and Lucy Raitano; editing by Dhara Ranasinghe)

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