0215 GMT - GBP/USD is trading steadily in the morning Asian session. Markets have "warmed" to the idea that the opposition U.K. Labour Party's projected landslide victory could end years of political and economic uncertainty under the Conservative Party, says Philip Wee, senior FX strategist at DBS Group Research, in a commentary. Although Labour Party leader Starmer has ruled out the U.K. rejoining three blocs--the EU, the single market, or the customs union--within his lifetime, his party may seek better trading arrangements by signing up to EU rules in certain sectors such as agriculture, food and chemicals, Wee adds. GBP/USD is little changed at 1.2765. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
July 04, 2024 22:16 ET (02:16 GMT)
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