Business · 20 July 2026
Pound gains as markets await Burnham's key spending signal
Britain's 10-year government borrowing cost rose to 4.98% on Monday as investors weighed Andy Burnham's first decisions after becoming prime minister. Markets are watching who he picks as chancellor because investors see that choice as a sign of whether he'll keep tight control of public spending. Sterling gained 0.13% against the dollar as traders became more confident after the smooth change of leadership.
Reported by Reuters · How we write briefs