UK’s Wallace: I would lean towards Boris Johnson at the moment

Market news

21 October 2022

UK’s Wallace: I would lean towards Boris Johnson at the moment

When asked who he will back to be the new Prime Minister, the UK Defence Minister Ben Wallace said, “I would lean towards Boris Johnson at the moment.”

Additional quotes

I will not stand to be Prime Minister.

Keen to see what Sunak says on security and defence.

Conservative party needs to settle down and get on with delivering 2019 mandate.

Unity is important, will look at how candidates will bring party together.

Hope Jeremy hunt stays as finance minister.

Market reaction

Amidst the UK political turmoil and downbeat consumer spending data, GBP/USD is licking its wounds at around 1.1130, down 0.91% on the day.

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