Sterling stabilizes against US dollar amid Brexit uncertainty

British Pound stabilized against US Dollar today as uncertainty over the Brexit, ahead the announcement for the winning candidate for the British Prime Minister post to succeed Teresa May.

The British politician, Boris Johnson, the most favourable candidate for the country's prime minister post, confirmed that he is committed to implement the exit of Britain from the European Union on October 31.

Johnson said the United Kingdom must end its membership in the European Union, whether or not an agreement has been reached.

Johnson stressed that there is a risk to the British economy as a result of the continuing uncertainty in the markets that hurt business and investment confidence.

The global markets focus shifted towards Japan, which will host the upcoming G20 summit, and will last until Saturday, during which the most important issues of global common concerns will be discussed.

In terms of trade, by 19:15 GMT, Sterling settled against Dollar at 1.269, with a high of 1.2708 and a low of 1.2663.