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GBP/USD slips to five-week low as Starmer's political future clouds pound
The pound fell to a five-week
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The pound fell to a five-week low against the dollar on Tuesday, trading at 1.3301. The move reflected not only broad dollar strength amid a rise in risk aversion but also sterling weakness stemming from a deepening political crisis in the United Kingdom. The coming days are likely to determine whether Starmer retains the premiership or steps down, with significant implications for both UK politics and the pound. The local elections on May 7 triggered severe turbulence within the Labor Party.
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