UK PM Starmer Steps Down, Pound Jumps Against Yen

The British Pound rallied sharply against the Japanese Yen on Monday, climbing above the 214.00 mark as markets reacted to the resignation of UK Prime Minister Keir Starmer. The move accelerated a recovery in GBP/JPY, with the pair gaining significant ground during the Asian session.

Investors welcomed the leadership change, driving demand for Sterling across multiple currency pairs. The Yen, meanwhile, continued to face selling pressure amid the shift in political sentiment. No further details on the timing of Starmer's departure have been confirmed.