After the UK Labour Party suffered losses in local elections, Prime Minister Keir Starmer is facing an internal leadership challenge. Home Secretary Shabana Mahmood and several cabinet members have called on Starmer to set a timetable for his resignation. The number of Labour Members of Parliament demanding that Starmer resign or provide a resignation schedule has reached 72, accounting for more than 17% of the party's 403 MPs.In early European trading hours, GBP/USD remained under pressure, falling 0.65% to 1.3517. The yield on 10-year UK government bonds rose 10 bps to 5.103%, marking the highest level since 2008, while long-dated bond yields climbed to their highest level since 1998. (mn/u)
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