Pound and bonds climb after Starmer steps down

Reports indicate that the resignation of British Prime Minister Keir Starmer led to a slight increase in the pound sterling and UK government bond prices. The yields on 10-year bonds fell to 4.80%, while the pound appreciated against the dollar by 0.1% to reach $1.3244, and increased by 0.2% against the euro. Expectations of a smooth leadership transition have encouraged investors to support Andy Burnham's candidacy, as the party plans to elect a new Prime Minister between July and September.

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