The British pound reached a session high on Thursday. At 9:31 a.m., the pound was up 0.35 percent against the US dollar to trade at $1.197. At 10:40 a.m., the pound was trading at about $1,199 to the dollar.
At yesterday’s previous close, the pound was trading at $1.1894.
This came as Downing confirmed that Mr Johnson would address the country to announce his resignation later in the day.
He is expected to make the announcement at noon.
Meanwhile, the FTSE 100 stock index rose 1.12 percent after media reports of the prime minister’s imminent resignation.
UPDATES WILL FOLLOW…