As widely anticipated from Tuesday evening, Boris Johnson has now announced his intentions to resign as Prime Minister and leader of his party, as a Conservative Party leadership contest is set to take place.

Upon the announcement the pound rose 0.5 percent, perhaps indicating markets were eager for the uncertainty of the past few days to be over.

Mike Owens, a global sales trader at Saxo Markets, explained: “Although predominately driven by the strong dollar, another less signif...