Sterling rallies as Prime Minister Liz Truss resigns

LONDON - Britain's pound rallied on on Thursday as British Prime Minister Liz Truss resigned.

The pound was last up 0.5% at $1.1278, having headed higher ahead of the news. It was virtually flat versus the euro at 87.04 pence per euro.

Liz Truss said she was resigning as prime minister, brought down by her economic programme that sent shockwaves through the markets and divided her Conservative Party just six weeks after she was appointed.