Sterling Struggles Following Labour Defeat in Manchester
Sterling stalled on Friday after the Green Party won a Manchester seat from Labour. Markets are tracking political uncertainty and potential interest rate cuts.
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The British pound struggled to find its footing on Friday as political instability in the United Kingdom and heightened geopolitical tensions led investors to favor less volatile assets. Sterling is currently facing its second consecutive weekly decline, having stalled against both the dollar and the euro. The GBP/USD exchange rate was last seen at $1.3483, while the EUR/GBP pair traded at 87.55 pence.
