Starmer's resignation weakens GBP and bonds

British Prime Minister Rishi Sunak announced his resignation today, causing a slight decline in the British pound by 0.27% to settle at 1.3202 dollars, and stabilizing the ten-year Treasury bond yields at 4.85%. Meanwhile, the main stock indices in the UK remained steady, with a slight decrease of 0.5% in the FTSE 100 and the mid-cap index. This comes amid increasing political pressure on Sunak and reports circulating about his rival, Andy Burnham, potentially taking over as prime minister.

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