• Breaking: UK's parliament does have confidence in the Prime Minister

Market news

6 June 2022

Breaking: UK's parliament does have confidence in the Prime Minister

The ballot of the Uk's Primminster Confidence Vote was held on Monday after the threshold of 54 letters was submitted to the 1922 Committee of Tory backbenchers.

359 ballots cast, vote in favour in having confidence in favour was 211 vs.148 said, this is a majority of just 63, a disappointing result. 

He is now immune for a year before another confidence vote can be called but his leadership is now in jeopardy giving Boris Johnson plenty of food for thought. Some speculate that he will resign, although he has previously said that he will not.

GBP is unchanged on the vote within a corrective phase vs. the US dollar which is firm in the US session:

(GBP/USD four-hour chart)

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