Mitsubishi UFJ: The emerging political uncertainty in the UK may lead to further depreciation of the pound.

Mitsubishi UFJ Financial Group, the parent company of Mitsubishi UFJ Bank, stated that the current political uncertainty in the UK could lead to further depreciation of the pound. UK Prime Minister Stamer is facing calls for resignation after the approval of former UK ambassador to the US Peter Mandelson to the role despite failing the vetting process. Stamer is expected to make a speech in parliament at 14:30 Greenwich Mean Time. These developments have once again sparked speculation about potential leadership changes if the Labour Party performs poorly in the local elections in May. So far, the negative impact on the pound has been relatively limited, but political developments in the UK could trigger more intense selling in the coming month.