The financial markets did not move much when British prime minister May announced she will resign on the 7th of June. The British Pound and FTSE100 both went up slightly after May’s speech. The most likely candidate for May’s job is pro Brexiter Boris Johnson. In the last days the British Pound already fell to its lowest point of 2019.

Since the majority of the British parliament is still not in favor of a hard Brexit there is still a solid support level under the British currency. The real danger however is that there might not come any new Brexit proposals causing a no deal Brexit in the end of October of this year.

You can watch May’s full resignation speech here.