BofA Exits GBP Trade As UK Political Uncertainty Deepens Sterling Selloff

The UK’s competition regulator has launched a broad antitrust investigation into Microsoft’s business software ecosystem, opening a new front in growing regulatory scrutiny of how cloud platforms, productivity software, and embedded AI capabilities may affect competition in enterprise technology markets. UK’s Competition and Markets Authority (CMA) said in a statement that it had opened a Strategic Market Status (SMS) investigation into Microsoft’s business software operations under the country’s new digital markets regime. The regulator said it will assess whether Microsoft has “substantial and entrenched market power” and a “position of strategic significance” in business software markets. “The investigation will assess whether Microsoft is using its position in business software to limit competition in cloud services, cybersecurity, communications, and AI,” the regulator said in a statement. The case is the fourth strategic market status (SMS) investigation the regulator has opened

The post Euro rallies above 0.8700 against the British Pound as UK political turmoil worsens appeared on BitcoinEthereumNews.com. The Euro (EUR) rallies for the second consecutive day against an ailing British Pound (GBP) on Friday, crushed by growing political uncertainty in the UK. The cross reached fresh five-week highs above 0.8720 earlier on the day and is heading for a 0.75% weekly appreciation, its best performance in the last eight months. Traders are selling the Pound across the board, following the resignation of the UK Health Secretary, Wes Streeting, the last of a series of resignations, following the disastrous Labour results at last week’s local elections. Streeting affirmed on Thursday that he “lost confidence” in UK Prime Minister Keir Starmer, which has increased his isolation. Starmer has pledged to remain in charge, but his position grows weaker by the minute. Calls to resign have been mounting, and some Labour lawmakers are moving to replace him, with the Mayor of G

The post British Pound: Political strain weighs on Sterling – Commerzbank appeared on BitcoinEthereumNews.com. Commerzbank’s Michael Pfister highlights mounting political turmoil in the United Kingdom (UK), with resignations and leadership speculation tightening pressure on Prime Minister Keir Starmer. He sees rising uncertainty over future fiscal policy as negative for the Pound (GBP). Despite recent Pound weakness, Commerzbank believes markets have not fully priced the risks and continues to expect higher EUR/GBP in the coming weeks. UK political risks seen hurting Pound “Nevertheless, the noose around Starmer’s neck seems to be slowly tightening.” “The Prime Minister appears severely weakened, and it is questionable whether he can remain in office for much longer.” “The situation is bad for the pound for two reasons.” “Firstly, political uncertainty rarely benefits a currency, and secondly, it is currently unclear what policies the potential successors intend to implement.” “Despite

The post Pound Sterling slips through 1.35 as the Labour crisis tops a UK GDP beat appeared on BitcoinEthereumNews.com. GBP/USD fell 0.9% on Thursday, breaking below 1.3500 in a sharp staircase decline from session highs to a low close to 1.3395. The move extended a multi-week downtrend from the early-March peak, with bearish momentum building through the European afternoon. The daily candle closed near session lows. The Pound Sterling came under heavy pressure on Thursday as the political crisis around Prime Minister Keir Starmer deepened. After Labour’s heavy losses in the 7 May local elections, four cabinet ministers resigned this week, including Safeguarding Minister Jess Phillips, and close to 100 Labour MPs publicly called on Starmer to resign or set a departure timeline. Health Secretary Wes Streeting was reported to be weighing a leadership challenge, although Starmer remained defiant after 111 MPs signed a statement of support. Stronger UK data failed to lift the currency: Q1

The news follows growing calls from UK lawmakers and government officials to curb or temporarily ban crypto political donations in the country.

The Bank of England is walking back key parts of its stablecoin rulebook after the digital assets industry pushed back hard against proposals officials now admit may have gone too far. Bank of England Revisits Stablecoin Limits That Industry Called ‘Cumbersome’ Deputy Governor Sarah Breeden, who oversees financial stability at the UK central bank, told […]

Meta employees in the US and UK are organizing against corporate software that tracks workers’ keystrokes and mouse activity.

Dimon's critique highlights the risk of capital flight from Europe and the UK, potentially shifting financial power towards more decisive markets. The post JPMorgan’s Jamie Dimon urges Europe and UK to clarify financial regulations or risk losing capital appeared first on Crypto Briefing.