UK Junior Minister Fahnbulleh resigns (the first Ministeral level resignation) and calls on PM Starmer to set a timetable for a transition

The resignation of UK Junior Minister Fahnbulleh marks the first ministerial exit in the current government, potentially signaling instability ahead of PM Starmer's leadership. This could add pressure to the GBP as markets assess the implications for policy continuity and broader political dynamics, particularly in the context of upcoming elections or leadership changes. Watch for market reactions in GBP/USD and UK Gilts as sentiment evolves around this development.