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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

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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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.