Matthew Ryan of Ebury said in a note that sterling could weaken after its recent rebound, which he attributes to optimism following Keir Starmer's resignation and the prospect of Andy Burnham becoming UK prime minister. "We think the rebound is partly justified but is increasingly a buy the rumor, sell the fact case," Ryan said. He added that sluggish UK growth and uncertainty over future fiscal policy could weigh on sterling.

2026-07-17

Matthew Ryan of Ebury said in a note that sterling could weaken after its recent rebound, which he attributes to optimism following Keir Starmer's resignation and the prospect of Andy Burnham becoming UK prime minister. "We think the rebound is partly justified but is increasingly a buy the rumor, sell the fact case," Ryan said. He added that sluggish UK growth and uncertainty over future fiscal policy could weigh on sterling.