Institution: The pound shows resilience, but economic fundamentals still raise concerns.

Jin10 data reported on July 10 that Monex analysts pointed out in their latest report that despite the many risks facing the UK economy, the pound still shows a certain level of resilience. On Wednesday, during a parliamentary inquiry, Prime Minister Starmer refused to rule out the possibility of future wealth taxes when questioned by the opposition leader. However, unlike last week, this statement did not trigger a wave of pound dumping. Previously, the pound was under pressure due to Starmer’s failure to promptly confirm that Chancellor of the Exchequer Reeves would continue in office after his turnaround on welfare reform. The report noted: “However, the economic challenges facing the government have not changed, which also means that the pound will continue to be under pressure going forward.”