Pound Drops as Labour Leadership Rumors Swirl
Update: 2025-11-12
Description
On November twelfth, the British pound plummeted to its lowest value against the euro in over two years, amidst growing leadership concerns. The pound fell by 0.4% against the euro, reaching 1.13, and also dropped by 0.5% against the US dollar. This financial instability was driven by accusations of a leadership plot, with Health Secretary Wes Streeting denying involvement. The pounds fall signaled a loss of investor confidence, linked to political uncertainty. During Prime Ministers Questions, Sir Keir Starmer addressed the rumors, and government borrowing costs rose due to investor worries about a potential leadership change.
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