UK: Welsh minister Cairns resigns from PM Johnson's government

Reuters on Wednesday reported that Alun Cairns, the Welsh Minister in British Prime Minister Boris Johnson's government, has resigned from his position.

The British pound came under modest pressure on this development. As of writing, the GBP/USD pair was posting small daily losses at 1.2978 and the EUR/GBP pair was up 0.1% on a daily basis at 0.8600.

Political headlines are likely to continue to impact the pair's movements in the absence of significant macroeconomic data releases from the UK.