By Julian Sheaand XING YI in London |
chinadaily.com.cn |
British Prime Minister Keir Starmer announces resignation outside his office at 10 Downing Street on Monday. [Photo by Xing Yi/China Daily]
British Prime Minister Keir Starmer ended all speculation about his future on Monday by announcing his resignation, less than two years after guiding the Labour Party to a landslide victory in the 2024 general election.
His resignation means the United Kingdom will have its seventh prime minister in just over a decade. Amid the imminent change, the British pound slid as much as 0.4 percent to touch $1.3181 early on Monday, approaching its 2026 low of $1.3159 set in March, before paring losses. The yield of the UK 10-year gilt bonds, a benchmark for what the Treasury pays to borrow money, edged up from 4.84 percent to 4.85 percent, while the yield on 30-year gilts rose from 5.54 percent to 5.55 percent.
