The pound rose 0.4% after the resignation of the British prime minister

Economy and stock exchange

The pound rose 0.4 percent against the euro on Friday after a 14-day loss, with British Prime Minister Theresa May setting a date for her resignation two days after seeking to push Britain's exit agreement from the European Union.

Trading was volatile as fears mounted that its successor would be a likely critic of the EU, which could boost the likelihood that Britain would break out of the European bloc without a deal.

Against the dollar, the pound was up 0.4% at $ 1.2713 after the May announcement.

Against the euro, the pound rose to 88.05 pence after 14 consecutive days of losses as traders cut some of their bets on the decline of sterling ahead of a long weekend.

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