Will U.K.'s New PM Be Good for the Pound?
The pound headed for its longest winning streak in two months before Theresa May takes over as U.K. prime minister later Wednesday, ending the political uncertainty after the country’s vote to leave the European Union prompted David Cameron to step down. The British currency rose as much as 0.7 percent to $1.3338, the highest level since July 4, and was 0.5 percent stronger at $1.3313 as of 7:03 a.m. in London. It climbed for a fourth day, the longest rally since May 19, rebounding from a 31-year low in the immediate aftermath of last month’s Brexit referendum. Economists expect the Bank of England to lower interest rates Thursday, capping the pound’s advance. State Street Head of Macro Strategy Timothy Graff discusses with Bloomberg's Anna Edwards and Manus Cranny on "Countdown." (Source: Bloomberg)