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GBP Tumbles to 7-Month Low Amid Starmer Leadership Challenge, BoE Hike Bets

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The Story

News Summary

  • GBP fell to $1.35, lowest since late April, after reports of a potential leadership challenge against PM Starmer.
  • Political uncertainty, combined with high oil prices and anticipated Bank of England rate hikes, pressured sterling.
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GBPUSD price history

1.35 +1.50% over the displayed period

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