<p>British health minister Wes Streeting resigned from the government on Thursday. He became the first senior minister to quit Prime Minister <a href="https://www.deccanherald.com/tags/keir-starmer">Keir Starmer's</a> Cabinet. This move is expected to be a precursor to challenging his leadership.</p><p>With one potential rival resigning from the Cabinet, Starmer, on the other hand, is under pressure to resign over hefty losses for the ruling Labour party in last week's local elections.</p><p>UK government bonds held on to their price gains, as a political crisis in the country deepened with the resignation of the health minister. </p>.UK PM Keir Starmer faces biggest challenge yet as resignation report overshadows King's Speech.<p>Sterling fell as much as 0.2 per cent to $1.3502, having traded around $1.351 prior to the news. It was last at $1.3518.</p><p>The pound weakened to 86.68 pence per euro, from 86.66 earlier, amid uncertainty.</p>.<p>"The big question is that the markets want to know how does this leave the direction of fiscal policy. It certainly opens up a huge amount of uncertainty, but we honestly don't know yet," Investec chief economist Philip Shaw said.</p><p>"At the moment, there are a lot of questions, not a whole lot of answers."</p><p><em>(With agency inputs)</em></p>
<p>British health minister Wes Streeting resigned from the government on Thursday. He became the first senior minister to quit Prime Minister <a href="https://www.deccanherald.com/tags/keir-starmer">Keir Starmer's</a> Cabinet. This move is expected to be a precursor to challenging his leadership.</p><p>With one potential rival resigning from the Cabinet, Starmer, on the other hand, is under pressure to resign over hefty losses for the ruling Labour party in last week's local elections.</p><p>UK government bonds held on to their price gains, as a political crisis in the country deepened with the resignation of the health minister. </p>.UK PM Keir Starmer faces biggest challenge yet as resignation report overshadows King's Speech.<p>Sterling fell as much as 0.2 per cent to $1.3502, having traded around $1.351 prior to the news. It was last at $1.3518.</p><p>The pound weakened to 86.68 pence per euro, from 86.66 earlier, amid uncertainty.</p>.<p>"The big question is that the markets want to know how does this leave the direction of fiscal policy. It certainly opens up a huge amount of uncertainty, but we honestly don't know yet," Investec chief economist Philip Shaw said.</p><p>"At the moment, there are a lot of questions, not a whole lot of answers."</p><p><em>(With agency inputs)</em></p>
