EUR/GBP, GBP/USD flows: challenge still in the works?

The political jostling continues. The Times reports that Streeting is preparing to resign as early as Thursday once the King's speech is out the way and force a challenge, seeing his odds shoot back up. Obviously, the market dislikes uncertainty and this would open up fresh divisions across the Labour party wings. Ultimately though this remains a three-dimensional puzzle. 

If any early election does proceed then either a victory for comparative centrist Streeting or, ironically, supporters of Burnham not backing any of the current contenders, might not see any immediate results deemed most market challenging. It’s yet to be seen if a credible left candidate can emerge if an early contest does proceed. Ed Miliband becomes the default dark horse, creeping up in the betting markets, but would be a dubious choice given his lack of voter appeal. The other scenario is that Starmer is given an ultimatum to announce a departure in a few months time, but he's showing few signs of giving in to the easy path. That scenario would open up a window through the summer for the gilt market to stew.