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Pound Traders in Untested Waters as Johnson Faces Rebellion
UK politics is in the spotlight again as Prime Minister Boris Johnson faces a confidence vote, but how to trade the pound around his predicament isn’t quite straightforward. Johnson’s fate fell into the hands of the ruling Conservative Party lawmakers after controversies including Covid lockdown parties that made him the first sitting prime minister found to have broken the law. But the news of the vote hardly affected the pound which rallied as UK markets returned from a holiday. Confidence votes against former premiers -- from Margaret Thatcher to Theresa May -- have whipsawed the pound, but this time round the ... (full story)