British Pound falls as Starmer’s resignation weighs on Sterling
The GBP/JPY cross came under pressure near the 213.00 level on Wednesday as the British Pound weakened after United Kingdom (UK) Prime Minister Keir Starmer announced he would stand down as Labour Party leader and Prime Minister. The political shock added uncertainty to the UK outlook, with nominations for Labour’s leadership expected to begin on July 9. Read More…
British Pound extends the decline below 1.3200 on UK political instability concerns
The GBP/USD pair loses traction to around 1.3195 during the early European trading hours on Wednesday. The British Pound (GBP) softens against the US Dollar (USD) amid political instability following Keir Starmer’s resignation as Prime Minister. Traders brace for the US May Personal Consumption Expenditures (PCE) Price Index data, which is due later on Thursday. Read More…
British Pound declines as market caution lifts US Dollar
GBP/USD extends its gains for the second successive day, trading around 1.3200 during the Asian hours on Wednesday. The currency pair depreciated as the US Dollar (USD) gained momentum, driven by a combination of robust domestic economic data and a complex, mixed geopolitical landscape. Read More…
