Confidence vote in UK PM Johnson to be held on Monday, June 6

In a statement published on Monday, Sir Graham Brady, Chairman of the 1922 Committee, announced that the threshold of 15% of the parliamentary party seeking a vote of confidence in British Prime Minister Boris Johnson had been exceeded.

A ballot will be held between 1700 and 1900 GMT on June 6 and the votes will be counted immediately afterwards.

Market reaction

The British pound holds its ground following this development. As of writing, the GBP/USD pair was up 0.35% on a daily basis at 1.2530.