Markets calm as Sunak secures lead to be next UK prime minister

Elliot Gulliver-Needham
clock • 3 min read

Markets have continued to react positively to the news that Boris Johnson has dropped out of the Conservative Party leadership race, leaving former Chancellor Rishi Sunak likely to become the next prime minister of the United Kingdom. The pound spiked from $1.13 to $1.14 last night upon hearing the news that Johnson - who was dumped by his Parliamentary party as leader just a few months ago - had withdrawn from the race, settling back at $1.13 as of time of writing, reports Investment Week. Gilt markets reacted very positively to the news, with ten-year gilt yields dropping from 4.1% ...

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