Pound rockets against Euro and dollar as Boris Johnson is confirmed PM

Sterling is on its course for its biggest rally against the Euro since May, with £0.89186 required for a unit of the currency.  It has also recovered against the dollar, and is now trading at $1.24983.  Markets were apparently well prepared for Boris beating Conservative rival Jeremy Hunt.  The Tory big beast, 55, promised throughout his campaign that “do or die” and \"come what may\" the UK will leave the European Union on October 31, 2019.    Claire Dissaux, head of global economics and strategy at Millennium Global Investments, said Johnson would likely end up with a hard Brexit via a Canada-plus type of trade agreement – a worrying forecast for the economy and the pound. Michael Brown, a senior currency analyst at Caxton FX, earlier told Daily Star Online: “With all this uncertainty, holidaymakers can hedge their bets and protect themselves from the on-going currency volatility against the Pound by exchanging half their currency now, half later.  “