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The pound moved to growth on the news of Liz Truss resignation


October, 20 2022
watermark Economic news

The British pound sterling has started to actively grow after the news of the resignation of British Prime Minister Liz Truss. 


On Thursday, Truss announced her resignation as leader of the Conservative Party, which entails her resignation from the post of prime minister, in which Truss worked for only 45 days.


As a result, the GBP/USD pair rate rose sharply from the level of $1.1171 to the level of $1.1336. Before the rumors about the Prime Minister's retirement, the pound was trading in a small minus. 


The main British stock index FTSE 100 also showed moderate growth – up to 6,957.60 points.


The yield on 10-year UK government bonds fell by 2.1 basis points to 3.857%.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.