Pound Rises to $1.3244 After Starmer Resigns as UK 10-Year Yields Fall to 4.80%
Updated
Updated · Bloomberg · Jun 22
Pound Rises to $1.3244 After Starmer Resigns as UK 10-Year Yields Fall to 4.80%
3 articles · Updated · Bloomberg · Jun 22
Summary
$1.3244 marked a 0.1% gain for sterling against the dollar after Prime Minister Keir Starmer resigned, while the pound also rose 0.2% versus the euro.
UK 10-year gilt yields fell 4 basis points to 4.80% as investors reacted positively to a clearer path for the frontrunner to succeed him.
The move pointed to a modest relief rally across UK assets, with both the currency and government bonds strengthening on reduced immediate political uncertainty.