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fxJul 9, 2026, 7:11 PM

GBP/USD Edges Higher on Dollar Weakness, Starmer Resignation

GBP/USD traded slightly higher as the US dollar failed to gain traction, with sentiment improving after UK Prime Minister Keir Starmer's resignation, according to Scotiabank strategists.

GBPUSD

The British pound edged higher against the US dollar on Monday, with the pair trading slightly above its previous close as the greenback struggled to gain momentum.

Scotiabank strategists Shaun Osborne and Eric Theoret attributed the move to improved sentiment following the resignation of UK Prime Minister Keir Starmer. The news has added a political dimension to the currency pair's short-term dynamics.

Technically, GBP/USD remains range-bound, but the modest uptick suggests traders are pricing in a potential shift in UK political stability. No specific levels or targets were provided in the report.

This update comes from a Scotiabank note cited in market commentary, with no immediate economic data releases breaking the session's quiet tone.

Source: FXStreet Forex News