British Pound Faces Pressure Amid Political Uncertainty and Bank of England's Stance

The British pound recently emerged as one of the weakest currencies among the G7 nations. According to Ming Pao, the decline in the pound's value is attributed to political uncertainty and the unexpectedly dovish stance of the Bank of England. Analysts from the research team suggest that the pound is likely to remain under pressure in the short term. However, if political uncertainties ease, the pound could recover against the euro, supported by resilient UK economic data.