Sources: Michael Gove said to have decided to have stay on

The GBP bulls are offered some reprieve, as the UK media quotes two sources, as saying that Michael Gove is said to have decided to have stayed on.

The sources said: “Michael is staying at Defra. He thinks it is important to continue working with Cabinet colleagues to ensure the best outcome for the country.”

GBP/USD jumped back to 1.2820 on the above headlines, before losing the steam to now trade just ahead of the 1.28 handlle.