Pound Rises As Liz Truss Announces Resignation

The pound rose against the dollar and government borrowing costs dipped as investors reacted to Prime Minister Liz Truss's resignation. <br />One analyst says the reaction suggested investors were "relieved" by the news, despite a lot of uncertainty remaining. <br />Business groups said the new prime minister would have to act quickly to restore confidence. <br />Government borrowing costs rose sharply last month after the government promised huge tax cuts in its mini-budget without saying how it would pay for them. <br />Mr. Hunt is due to announce plans for spending and tax on 31 October in his economic plan, which the Treasury confirmed was set to go ahead.