The British pound weakened against other major currencies in the European session on Friday, as investors weighed a potential leadership challenge to Prime Minister Keir Starmer from Greater Manchester Mayor Andy Burnham, as well as concerns over inflation risks.
Burnham announced on Thursday that he would try to run in the Makerfield by-election that became available following a colleague's resignation, possibly opening the door for him to take on Starmer.
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Forex News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.