Business · 14 July 2026
Pound hits year-high amid UK leadership change, spending concerns
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Sterling climbed 0.24% to $1.3378 and reached its highest trade-weighted level in a year, helped by weakness in the euro. Investors are watching Andy Burnham, who is due to replace Keir Starmer as prime minister on July 20, and who he picks as finance minister. Rathbones, the asset manager, has cut its UK government bond holdings over spending concerns.
Reported by Reuters · How we write briefs