The British pound rose early Thursday as the BBC and other U.K. media reported that Prime Minister Boris Johnson is expected to resign imminently. The pound
GBPUSD,
rose 0.4% to $1.1978, in a week that has thus far seen dozens of Conservative cabinet members resign in protest over Johnson’s flip-flopping around a sexual harrassment scandal. The BBC reported that Johnson will resign as Conservative leader, but continue as prime minister until autumn. A campaign to replace Johnson will take place this summer, with a new leader ready in time for the October Tory party conference, the BBC said.
