Prime Minister Keir Starmer has expressed strong support for Chancellor Rachel Reeves amidst ongoing budget controversy, particularly following the untimely release of a report from the Office for Budget Responsibility. This defense comes as traders closely monitor the GBP/USD exchange rate, which remains sensitive to domestic political developments. Analysts caution that any instability could lead to fluctuations in the currency pair as market sentiments shift.
Commerzbank's FX analyst Antje Praefcke highlights that Starmer's emphasis on maintaining fiscal stability is crucial for the UK economy and its currency. As the GBP faces pressure from political uncertainties, any signs of a solid fiscal strategy could stabilize or even bolster the pound against the USD. Market participants are advised to watch for further developments, as they could significantly impact trading strategies in the forex market.
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Data Source: FX Killer Analysis Team Updated: 2025-12-02 10:22
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.