The British pound was headed for its biggest weekly jump in 12 weeks against the US dollar yesterday, helped by easing domestic political risk and soft US labour market data.
Sterling was up 0.1 per cent at $1.3357, taking its weekly gain to 1.2pc, its biggest weekly jump against the dollar since early April. British markets had shown signs of unease when Andy Burnham, who is set to replace outgoing Prime Minister Keir Starmer, gained support for a possible leadership challenge.
Burnham had previously stated that the country had to get “beyond this thing of being in hock to the bond markets.”
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