BusinessGBP/USD Falls Amid UK Political Turmoil and US Inflation Surge
GBP/USD traded below 1.3550 due to UK political instability with over 80 Labour MPs calling for Keir Starmer's resignation after poor local election results. US inflation data showed headline CPI at 3.8% YoY, boosting expectations of a December 2026 rate hike. Political uncertainty and strong US data pressured the pound, risking a drop to 1.3500 support level.
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