The pound trended upward, then began sliding back down.

On Thursday, British Prime Minister Liz Truss announced that, after only 44 days in the position, she would be stepping down. Truss’ brief period in office was marred by deeply controversial decisions, primarily revolving around the state of the United Kingdom’s economy.

Following the announcement of Truss’ resignation, the value of the British pound trended upward slightly, with investors expressing relief at not having to deal with Truss’ policies anymore. However, this boost was short-lived, as the relief was soon replaced by uncertainty of who could be the next British Prime Minister.

“The pound has been susceptible to the broad strength in ‘king dollar’ today and reaffirms our view that what we saw yesterday — and even the prospects of a Rishi Sunak leadership – is not ‘game changing’ to GBP markets,” Viraj Patel, a senior strategist at Vanda Research, told CNBC.

“Overseas investors are likely to see this political volatility as another reason to get out of UK assets.”

“We have a fiscal deficit, we have a current account deficit, and we are at the behest of the kindness of strangers continuously, and have been for many decades, in practice,” added Peter Toogood, chief investment officer at Embark Group.

Investors are adopting a wait-and-see approach, though many are less-than-optimistic that a change in leadership would do much for the floundering currency.

“Reports that a new PM would delay tax hikes and spending cuts seem odd,” said Patel. “They wouldn’t last for long if they did choose to take this route … markets would quickly ‘vote them out.’ My initial sense is ‘nothing changes’ on the policy front — and if anything Sunak would double-down on trying to get inflation down as he pledged throughout the campaign.”