United Kingdom (UK) Chancellor of the Exchequer Rachel Reeves confirms during the European trading session on Thursday that Greater Manchester Mayor Andy Burnham will be the next Prime Minister (PM), following the resignation of PM Keir Starmer.
Remarks Andy Burnham will be the next UK Prime Minister
Burnham is clear he’s committed to the UK’s fiscal rules. Labour has unfinished business on fiscal devolution. This year’s UK budget must detail fiscal devolution.
Market reaction A sharp appreciation is observed in the British Pound (GBP), following the confirmation from UK Chancellor of Exchequer Reeves that Andy Burnham will be the next PM. At press time, GBP/USD trades 0.2% higher to near 1.3200. Pound Sterling FAQs The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom.