UK: Boris Johnson set to avoid an immediate no confidence vote

Citing Huffington Post UK, Reuters reported that British Prime Minister candidate Boris Johnson was set to avoid an immediate no-confidence vote in his new government claiming that Jeremy Corbyn was waiting for a better chance to "topple him after the summer."

The market reaction to this article seems to be helping the British pound staged a modest rebound against its major rivals. As of writing, the GBP/USD pair was still down 0.2% on a daily basis at 1.2450.