Pound rises as May is expected to set departure date

Friday, 24. May 2019 09:08

The British pound gained against the dollar on Friday morning as Prime Minister Theresa May was expected to set the date of stepping down from the post after pressures to resign, according to unnamed cabinet ministers cited by the BBC. May's latest Brexit offer to Parliament was met with disappointment from a number of Conservative MPs. Before the announcement, she will meet the chairman of Tory backbenchers, Sir Graham Brady.

The most likely date for the beginning of the leadership race, after May leaves, was reported to be June 10.

The pound was 0.16% higher against the American dollar to go for 1.26770 at 9:05 am CET, after reaching the highest level since Wednesday evening. Compared to the Japanese yen, the sterling added 0.12%, buying ¥138.90050 at 9:06 am CET.

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