Rishi Sunak set to be UK’s next prime minister.
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Rishi Sunak, Britain’s third prime minister in seven weeks, will face the huge challenge of projecting stability after a period of historic political and financial market chaos. But his other task — shepherding the country through a recession — is poised to be just as daunting.
The pound rose against the US dollar as Sunak’s path to power cleared with the withdrawal of rival Boris Johnson earlier Monday, but was last down 0.2% to below $1.128. Yields on benchmark 10-year UK bonds, which move opposite prices, fell to 3.82%.
The pound rose against the US dollar as Sunak’s path to power cleared with the withdrawal of rival Boris Johnson earlier Monday, but was last down 0.2% to below $1.128. Yields on benchmark 10-year UK bonds, which move opposite prices, fell to 3.82%.
