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Boris Johnson is the new Prime Minister of Britain

By MoneyWay | Jul 23, 2019

Boris Johnson, the Brexiteer who has promised to lead Britain out of the European Union with or without a deal by the end of October, will replace Theresa May as prime minister after winning the leadership of the Conservative Party on Tuesday. His convincing victory catapults the United Kingdom towards a showdown with the EU and towards a constitutional crisis at home, as British lawmakers have vowed to bring down any government that tries to leave the bloc without a divorce deal.

The USD is higher against most currencies and U.S stocks are higher, boosted by upbeat earnings and forecasts from Coca-Cola and United Technologies, while a two-year debt ceiling and budget deal between President Donald Trump and Congress buoyed sentiment.

As a result, the CAD is weaker to the USD, oil remains almost unchanged markets are waiting to see how the new UK prime minister will react to Iran’s continued tanker dispute.

Currently             Close                     Range

USDCAD               1.3143                   1.3119                   1.3116-1.3164

EURCAD               1.4659                   1.4705                   1.4650-1.4715

GBPCAD               1.6348                   1.6366                   1.6306-1.6396

                                                                                           Prior                      Actual

US:         Existing Home Sales June                              5.36M                   5.27M

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