Pound steady ahead of Bernham speech

The British pound declined by 1.7% during the current month ahead of a speech by a potential UK Conservative leadership candidate, Andy Burnham, amid concerns over his expansionary fiscal policies and their impact on economic stability. Investors are awaiting the content of his speech to understand his stance on economic policy, especially amidst increasing political uncertainty and expectations of rising borrowing costs and a surge in bearish positions on the currency.

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