UK Reshuffle: Finance Minister Rishi Sunak remains in position

Citing British Prime Minister Boris Johnson’s office, Reuters reported on Wednesday that Finance Minister Rishi Sunak will remain in his position following the reshuffle of the cabinet.

 According to the latest headlines, British Foreign Secretary Dominic Raab has been appointed as Deputy Prime Minister and Justice Secretary. Additionally, Cabinet Office Minister Michael Gove is now the new Housing Minister. 

Market reaction

The GBP/USD pair edged slightly lower from daily highs as investors continue to assess the political developments. As of writing, the pair was up 0.2% on the day at 1.3833.