The British pound strengthened against other major currencies in the European session on Friday, after the release of strong retail sales figure in May and the political stability indicated by Andy Burnham's victory in the Makerfield by-election.
Investors considered the possibility of further political unpredictability with Burnham's return to Westminster in addition to the Bank's policy outlook. Speculation over a possible challenge to Prime Minister Keir Starmer's leadership has increased following Burnham's victory.
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Forex News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.