In a brief statement, U.K. Prime Minister Liz Truss announced her resignation. Truss said she cannot deliver on the mandate she won in the Conservative election, and said a new leadership election will be held in a week. Betting markets suggest that Rishi Sunak, the former chancellor, may succeed her. The pound was stronger on the day, at $1.1272, and U.K. bonds also rose.
BoE interest rate and weak USD: triggers for GBPUSD growth
Rising unemployment in the US is putting pressure on the USD. Against this backdrop, GBPUSD may continue to rise toward the 1.3590 area. Details —