Business · 16 July 2026
Pound holds two-month high after unexpected finance minister pick
Sterling held close to its strongest level since May 12 after reports Andy Burnham is expected to choose Shabana Mahmood, not Ed Miliband, as finance minister. Britain’s economy grew only slightly in May, with services expanding while other sectors shrank, pointing to fragile business confidence. The pound traded at $1.3533, while the euro rose 0.13% to 84.79 pence.
Reported by Reuters · How we write briefs