(MENAFN- AFP) The British pound spiked Thursday immediately after top Brexit campaigner and former London mayor Boris Johnson said he will not stand to succeed Prime Minister David Cameron.
The currency rose to $1.3493 from its $1.3434 level seen just before the surprise announcement by Johnson who had been widely expected to go for Prime Minister David Cameron's job.
The pound was battered following last week's British vote to leave the European Union, and has since staged a gradual recovery.
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