The British Prime Minister, Liz Truss, announced her resignation, Thursday, due to widespread pressure on her against the backdrop of her economic plan, which caused chaos in the British markets and plunged the sterling to unprecedented levels, which prompted Truss to retract it, and after this resignation, Liz Truss became the owner of Shortest tenure of prime minister in Britain.
Japan recorded a trade deficit for the fourteenth consecutive month in September due to rising fuel prices, which led to a rise in imports due to the weak yen.
currency movement
Sterling fell 0.21 percent to $1.1215 in early Asian trade, after briefly rising to $1.1338 in the previous session, following the announcement of Truss’ resignation.
The euro fell 0.15 percent to $0.97725, after tracking the impact of sterling, and rose in the evening to $0.98455.
Meanwhile, the Japanese yen was last trading at 150.20 against the dollar, after hitting a 32-year low at 150.29 pm. The yen has fallen about 1 percent this week and is on track to incur a loss for the 10th consecutive week.
The dollar index rose against a basket of currencies on the back of an increase in the yield on US Treasury bonds, and the index rose 0.03 percent to 112.97.
The risk-sensitive Australian dollar fell 0.18 percent to $0.6272, but it is heading towards recording its first weekly increase after losses for five consecutive weeks.
The New Zealand dollar fell 0.22% to $0.56625, but it is similarly on track to record its first weekly gain after nine consecutive weeks of losses.
#sterling #declining #resignation #Tras.. #Japanese #yen #heading #incur #loss #tenth #week #row