JP Morgan says that Boris Johnson has all but three options left

In a note to clients, the firm points out that UK prime minister, Boris Johnson, is most likely to resign to let someone else request the European Union to seek a Brexit delay:

"The only options we regard as ultimately viable are for the PM to present a deal to the Commons and secure approval for it, resign and let someone else make the extension request as PM, or back away from his stated position. At this point, our view is that resignation is the most likely of these three."

Given current circumstances, I reckon Johnson's resignation will be a welcome development for the pound as it means less of a threat to leave without a Brexit deal by 31 October.