LONDON: The pound extended gains after Liz Truss announced she was resigning as UK prime minister, capping weeks of speculation on the future of her premiership since her initial fiscal policy drove markets into turmoil.
Sterling jumped more than 1% to trade past $1.13. The yield on 10-year bonds fell 5 basis points to 3.83%. Truss said that the UK Tory leadership vote would be completed in a week, although Chancellor of the Exchequer Jeremy Hunt won’t stand to be Conservative Party leader, according to a spokesman.
