Business · 17 July 2026
Pound stays on track for a third weekly rise as Labour leadership changes
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Sterling slipped 0.2% to $1.345 on Friday but was still heading for a 0.4% gain over the week after a strong rise on Wednesday. Investors welcomed reports that incoming prime minister Andy Burnham will choose Shabana Mahmood as finance minister, easing worries about higher public spending. The pound also got support from stronger than expected UK growth figures, although analysts said it now looks expensive against the euro.
Reported by Reuters · How we write briefs