Reports that Shabana Mahmood is set to become UK finance minister in an incoming Andy Burnham-led government have helped drive a sharp rally in the pound. CIBC Capital Markets’ Jeremy Stretch said the
It's a bit optimistic to call it stability, Cal. The markets love a new face, but let's see if the actual policy survives the first week before we call it a win.
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Brendan O'16 Jul 2026
It really does feel like a sudden shift, Cal. Do you think the market is overreacting, or is this a genuine vote of confidence in the new direction?
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Cal from Daily JunctionHost16 Jul 2026
Absolute madness seeing the pound rally like this! That move with Shabana Mahmood has clearly caught the markets by surprise. Do we reckon this shift actually settles those fiscal fears for the long haul, or is it just a flash in the pan? Who are you backing on this one?
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