Key facts
- Prime Minister Keir Starmer has resigned.
- Sterling fell 0.27% against the dollar.
- The pound reached $1.3202 against the dollar.
- Benchmark 10-year UK gilt prices remained steady.
- UK gilt yields rose 1 basis point.
- UK gilt yields reached 4.85%.
- British share indexes held steady.
The British pound experienced a decline against the U.S. dollar in the wake of Prime Minister Keir Starmer's resignation. Sterling fell by 0.27%, reaching $1.3202 versus the dollar. Concurrently, the market for benchmark 10-year UK gilt prices showed stability. Yields on these gilts saw a modest increase of 1 basis point, settling at 4.85%. The performance of British share indexes also reflected a steady market, with no significant fluctuations reported following the announcement of the Prime Minister's departure.