It was announced on Tuesday that Boris Johnson is the new resident of Number 10, taking over from Theresa May.
I believe Boris Johnson will be an impotent Prime Minister.
Mrs May was faced with a tough arithmetic in parliament, but her successor will have an even harder time.
Indeed, following numerous defections from serving MPs, and the likely loss of two seats in by-elections, the Tory party’s small majority may well collapse.
This, coupled with the fact that within Read More
Should Boris Johnson be the next UK Prime Minister, we can expect the pound to be driven down even further.
Johnson is the favourite to win the Tory leadership contest, securing the support of over 40 Conservative MPs, placing him streets ahead of his rivals.
As such, should he get to Number 10, the pound will be delivered another bloody nose.
Additional downward pressure will impact sterling in this case due to the increased probability of Boris Johnson taking Britain into Read More