British pound reacts weakly to Truss victory in leadership race

The pound sterling exchange rate against the dollar reacted weakly on September 5 afternoon to the announcement of the name of the new British Prime Minister – Liz Truss, Report informs referring to the auction data.

The pound against the dollar was down a modest 0.03% to $1.1503 from the previous close of $1.1507.

The head of the steering committee of the UK Conservative Party Graham Brady announced that according to the results of the vote, the head of the British Foreign Office, Truss, was elected the leader of the party, and on September 6 she will become the country’s prime minister.

Immediately prior to this announcement, the pound was trading at just under $1.15.