UK PM Keir Starmer Resigns What Next

UK Prime Minister Keir Starmer has announced his resignation, triggering a leadership election process that Citi expects will create GBP volatility due to fiscal uncertainty. The firm remains bearish on the currency ahead of political developments.

Key Takeaways

• 1.UK Prime Minister Keir Starmer has announced his resignation, initiating a leadership election process expected to conclude by September.
• 2.Andy Burnham is considered a frontrunner, with his potential premiership representing a 'policy unknown' regarding fiscal rules and borrowing.
• 3.Citi maintains a bearish view on GBP due to persistent political noise and potential changes to fiscal policy and chancellor status.

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