Sterling, FTSE 100 gain ahead of UK PM Boris Johnson’s expected resignation

Sterling hit a day’s high Thursday following multiple unconfirmed reports that Prime Minister Boris Johnson is set to resign.

The pound rose 0.35% against the U.S. dollar to trade at $1.1971 around 9.25 a.m. London time.

It comes after more than 50 MPs resigned from Johnson’s government within 48 hours.

CNBC and NBC News were unable to independently verify reports of Johnson’s resignation.

This is a breaking news story and will be updated shortly.