{"id":68768,"date":"2022-07-20T22:00:23","date_gmt":"2022-07-20T18:00:23","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=68768"},"modified":"2022-07-20T22:00:26","modified_gmt":"2022-07-20T18:00:26","slug":"truss-sunak-move-a-step-forward-to-become-uks-next-pm","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/truss-sunak-move-a-step-forward-to-become-uks-next-pm\/07\/20\/market-updates\/","title":{"rendered":"Truss, Sunak move a step forward to become UK\u2019s next PM"},"content":{"rendered":"\n<p>Following Wednesday&#8217;s voting, Penny Mordaunt has been knocked out of the Conservative leadership contest, leaving Rishi Sunak and Liz Truss to face each other in the run-off to replace Boris Johnson.<br><br>The winner of the final round is expected to be announced on Monday, September 5, following a postal ballot completed by 160,000 Tory party members.<br><br>This development does not have an immediate impact on the sterling\u2019s valuation. The GBP\/USD pair was trading flat on the day at 1.1995.<br><br>The GBP\/USD pair is hovering around 1.2000, around the same level it closed on Tuesday. The pair bottomed on European hours at 1.1954 and then rebounded to the 1.2000 area.<br><br>For the third consecutive day, GBP\/USD failed to break the 1.2030\/40 area and weakened. The current tone favors a correction that could face support at 1.1950 and 1.1920.<br><br>Earlier on Wednesday, inflation data in the UK showed the annual CPI rate rose to 9.4%, above the 9.3% of market consensus, hitting the highest level in 40 years. The numbers did not trigger a reaction in the pound. A 50 basis point from the Bank of England at the August meeting is fully priced in.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following Wednesday&#8217;s voting, Penny Mordaunt has been knocked out of the Conservative leadership contest, leaving Rishi Sunak and Liz Truss to face each other in the run-off to replace Boris Johnson.The winner of the final round is expected to be announced on Monday, September 5, following a postal ballot completed by 160,000 Tory party members.This &hellip;<\/p>\n","protected":false},"author":13,"featured_media":45919,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[6967,7514,7034,9835,9836],"class_list":["post-68768","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-boe","tag-boris-johnson","tag-gbp-usd","tag-tory-elections","tag-uk-cpi"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=68768"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68768\/revisions"}],"predecessor-version":[{"id":68773,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/68768\/revisions\/68773"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/45919"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=68768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=68768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=68768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}