Sterling rallied as UK Prime Minister Liz Truss announced her resignation. Her departure followed a humiliating reversal of almost all of her economic program
Truss' economic programme had sent shockwaves through the markets and divided her Conservative Party, contributing to a sharp a selloff in UK assets.
"Initially, this is likely to take an uncertainty premium out of the market but it depends who takes over. You need a steady hand at the top," said Viraj Patel, global macro strategist at Vanda Research.Truss' resignation came a day after a second top minister quit and rowing and jostling broke out among her lawmakers in parliament.
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UK's Truss quits after turmoil obliterated her authorityBritish Prime Minister Liz Truss quits after her policies triggered economic turmoil and obliterated her authority. Live updates here.
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UK's Truss quits after turmoil obliterated her authorityBritish Prime Minister Liz Truss quits after her policies triggered economic turmoil and obliterated her authority. Live updates here.
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British Pound (GBP) Breaking News: UK PM Liz Truss ResignsUK Prime Minister Liz Truss has resigned saying that she is unable to deliver on the mandate that she was elected on. Get your market update from nickcawley1 here:
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