Breaking: Boris Johnson becomes next PM of UK as expected, GBP/USD rises

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In a widely expected outcome, Boris Johnson became the new leader of the Conservative Party, receiving an impressive 92,513 of Tory votes to replace Theresa May as the next Prime Minister of the United Kingdom.

With the initial market reaction, the GBP/USD pair extended its rebound and turned flat on the day at 1.2470.

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