Canadian Prime Minister Justin Trudeau Resigns Party Leadership Post

Update 1.6.25: Canadian Prime Minister Justin Trudeau announced Monday he is resigning after nearly a decade in office following mounting calls for him to step down and “internal battles” within his party. The 53-year-old, who has been in power since 2015, said he plans to stay in his post until his ruling Liberal Party chooses a replacement in the wake of his stunning fall from grace. -- nypost.com

Canadian PM Justin Trudeau is expected to announce his resignation before Wednesday, according to The Toronto Globe and Mail. The announcement is set to be made before the national caucus meeting, the outlet reports.

Trudeau's support among Canadians has completely collapsed, with just 30% of Canadians approving of his job as PM.His approval rating was 63% when he was first elected.

More and more of his own party leadership have called on Trudeau to resign in recent weeks. Last month, leader of Canada's New Democratic Party Jagmeet Singh called on the PM to resign. He cited the high price of housing, rising crime, use of food banks, and other failures of Trudeau's ten years in office.

Last month, leader of Canada's New Democratic Party Jagmeet Singh called on the PM to resign

When a Canadian prime minister resigns, the ruling party appoints an interim leader from among its members in Parliament, who then becomes the new prime minister. A permanent leader is chosen later through a leadership convention, but the government does not necessarily fall unless a no-confidence vote occurs.

The Canadian Dollar is surging on reports of Justin Trudeau resigning.