The UK Conservative Party's leadership election will be held on Monday 24th – by fx_ross UnitedKingdom GBPUSD
The 1922 committee announced that the first ballot of MPs in the Conservative Party's leadership election will be held on Monday 24th, between 3:30 PM and 5:30 PM UK time.
If two candidates emerge, they will go to an online vote of members of the wider Conservative Party, with the winner declared by next Friday. The British pound fell to a low of 1.1171 on Thursday, after Liz Truss announced she was resigning as British Prime Minister while investors rushed for safety amid concerns over fiscal uncertainty in Britain and prospects of aggressive US Federal Reserve interest rate hikes.On the macro front, Britain's annual rate of consumer price inflation inched up to 10.1% last month, returning to a 40-year high and beating market forecasts, while the core rate hit an all-time high of 6.5%.
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