Pound Plunges to 5-Week Low as Andy Burnham Eyes PM Challenge

The pound plummeted to a five-week low against the dollar on Friday, dropping almost three cents to $1.336, as the UK financial markets reacted to the potential leadership challenge to Prime Minister Keir Starmer by Manchester Mayor Andy Burnham. This drop, the largest weekly decline in 18 months, came amidst concerns that a Burnham premiership could lead to a loosening of the UK's fiscal rules, increasing borrowing. ... [Rest of the cleaned article content preserved with paragraph breaks]