Pound rises to 1.337 dollars despite political crisis
The pound rose to $1.337 as political pressure on Keir Starmer and high inflation capped gains. Investors fear leadership changes may hurt UK finances.
Xurve View
Insights:
Xurve View
GBP/USD rose 0.4% to $1.337 on May 18. The pair recovered from a low of $1.3304 hit earlier in the morning, its weakest level since April 8. Political instability and energy-driven inflation are countering the support typically provided by surging gilt yields for the United Kingdom.
