Institution: The pound declines due to tense US-Iran relations and concerns over UK politics
According to Golden Ten Data on May 28, George Vessey from Convera stated in a report that the British pound has declined as US-Iran tensions dampen risk appetite and political uncertainty emerges again in the UK. The US military carried out new strikes against Iran on Wednesday. Meanwhile, next month's UK by-election could trigger a prolonged leadership struggle against Prime Minister Starmer if potential challenger Andy Burnham wins. "Overall, the British pound appears increasingly vulnerable, with recent resilience giving way to more fragile, risk-sensitive characteristics."
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