UK's Labour-affiliated unions are on Wednesday expected to issue a joint statement saying the Labour party "at some stage" needs to put a plan in place to elect a new leader, according to The Guardian

The announcement from Labour-affiliated unions about the need for a new leadership plan suggests potential instability within the UK political landscape. This could heighten uncertainty around government policies and impact investor sentiment, particularly in sectors sensitive to political developments. Keep an eye on GBP and related equities, as political volatility often leads to a flight to safety or shifts in market perception.