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As per the latest updates from the Sky News, the Irish Prime Minister Leo Varadkar has tendered his resignation to the Irish president following the inconclusive result of the recent general election. However, he will remain as the acting PM while attempts to form a new coalition government continue.

FX implications

Although this could be seen as the risk-negative headline, no major reaction to the news has been noticed by the press time. The reason could be the market’s wait for the UK open.