Tensions continue to grow for GBP, struggling to hold its levels against EUR and USD. Recent USD strength is coming from selloffs in stock markets from tariffs threats and once again proving that USD is a preferable choice of holdings while uncertainty is brewing.
Another factor that could generate potential GBP weakness is the by-elections later this week. A setback for the labour government could bring back ambiguity of the labour leadership and like last month bring weakness to GBP if it unfolds.
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