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2026-05-28 22:04:54
[Rabobank: UK Fiscal Concerns Could Weigh on Sterling] Rabobank's Jane Foley said in a report that the pound faces further downside risk due to fiscal concerns stemming from the prospect of a leadership challenge for UK Prime Minister Keir Starmer. She stated that Andy Burnham and Angela Reyner, both members of the Labour Party's left wing, are the frontrunners to win any leadership challenge. Foley said a leftward shift could raise concerns about further debt issuance. The analyst added that despite Burnham's recent insistence that he will abide by fiscal rules, he may increase the tax burden to support spending plans. "This could worry investors." The pound fell 0.1% to $1.3414. The euro rose 0.2% to a nine-day high of 0.8672 pounds.
