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Sterling Hits One-Year High on Shabana Mahmood Finance-Minister Speculation

7/15/2026

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Summary

Story summary

Sterling rose to a one-year high against the euro after speculation that Shabana Mahmood will become finance minister.
Andy Burnham will appoint Mahmood as finance minister when he takes office as Britain’s prime minister next week.
Mahmood has limited economic policy experience and is known for a hard line on immigration.
Burnham said he will assess the nation’s finances before deciding on any tax increases.

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Story summary

Sterling rose to a one-year high against the euro after speculation that Shabana Mahmood will become finance minister.
Andy Burnham will appoint Mahmood as finance minister when he takes office as Britain’s prime minister next week.
Mahmood has limited economic policy experience and is known for a hard line on immigration.
Burnham said he will assess the nation’s finances before deciding on any tax increases.