Macro Finance
Pound Index Hits One-Year High on Mahmood for Chancellor Reports
Bloomberg Markets·July 16, 2026·1 min read
A measure of sterling's strength rose to its highest level in a year on Wednesday following reports that incoming UK Prime Minister Andy Burnham will name Shabana Mahmood as his Chancellor of the Exchequer. The pound index gained on the news, reflecting market optimism about the potential fiscal policy direction under the new leadership.
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