However, the rebound lasted just a few minutes, since the exchange rate between the two currencies stood at 1.1262 dollars for each pound, a level close to the crossing registered on September 23, when the United Kingdom presented its tax rebates.
The slight rebound on this day, however, It does not reverse the downward trend that the British currency has been experiencing since May 2021, when it was exchanged for 1.4 dollars.
Meanwhile, the yield recorded by British bonds with a maturity of 10 years in the secondary debt markets also rose slightly this Thursday after the resignation of Truss.
Specifically, the interest rate offered to investors stood at 3.8781% at the close of Wednesday, while at the opening of this Thursday it reached 3.9617%. Although the intraday high after the mid-session had reached 4.0225%, after the announcement of the resignation it fell to 3.7756%.
A few minutes after the resignation, the yield rebounded slightly to around 3.8210%, still above the yield recorded on September 23. Meanwhile, in the last year, the interest of the 10-year bond has shot up by 3 percentage points.
“It is the best decision to keep the UK in a stable economic condition,” Truss said in an appearance at Downing Street.
It should be remembered that the Prime Minister of the United Kingdom, Liz Truss, resigned from her position on Thursday after weeks of political and financial crisis, which caused tensions within the Conservative Party itself. Hours before she had submitted her resignation to the Minister of the Interior, Suella Braverman.
UK Prime Minister Liz Truss resigned from her post on Thursday after weeks of political and financial crisis, sparking tensions within the Conservative Party itself. Hours before, the Minister of the Interior, Suella Braverman, had presented her resignation.
Source: Ambito
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