UK Assets Risk Another Hit as Political Speculation Swirls

The latest UK political drama is negative for the country’s assets, according to analysts, with uncertainties building ahead of a contentious budget.

The pound fell 0.5% to the day’s low of $1.3085, while hitting its weakest level against the euro in two and a half years following allegations that Health Secretary Wes Streeting was planning to challenge the leadership of Prime Minister Keir Starmer. Gilts reversed the previous day’s gains.