Pound rises as Johnson keeps lead in Tory race
The British pound rose against major currencies on Wednesday as Boris Johnson maintained his strong lead in the Conservative Party's elections for the next leader and prime minister of the country. In the third ballot, former mayor of London won 46% of the votes, or 143. Foreign Secretary Jeremy Hunt came in second getting support of 54 Conservative MPs.
Earlier in the day, former United Kingdom Brexit Secretary Dominic Raab endorsed Johnson to succeed Theresa May. As a prominent Brexiteer, Johnson stressed the importance of leaving the European Union for the public's confidence in politics.
The sterling jumped 0.59% against the United States dollar at 7:40 pm CET, going for $1.26318, highest since last Friday. Compared to the Japanese yen, it added 0.49% at the same time, buying ¥136.85650. Against the Canadian dollar, the pound increased 0.41%, changing hands for 1.68677 at 7.41 pm CET.
On the euro, the British currency advanced 0.37%, buying €1.12595 at 7:43 pm CET, after touching its weekly high earlier in the day.