UK Labour MP West will move ahead with her stalking horse challenge against PM Starmer, ITV's Peston reports

The report of MP West moving forward with her challenge against PM Starmer introduces political uncertainty in the UK, which could weigh on GBP in the short term. This situation might impact risk sentiment not only in European markets but also in other currencies like the USD and JPY as traders reassess their positions related to UK political stability. Keep an eye on GBP/USD and related asset classes for potential volatility as the scenario unfolds.