UK Parties Head for Leadership Battles amid Brexit Fallout

The Labour Party headed for a leadership battle, mirroring a fight for control of the ruling Conservative Party, after the decision by voters to leave the European Union last week led to upheaval in Westminster.

Angela Eagle, a senior Labour MP, will announce on Thursday that she will challenge leader Jeremy Corbyn who has been facing a growing revolt within the party, media reports said on Wednesday.

Eagle, a former pensions Secretary, quit as Labour’s top business official on Tuesday, one of more than 20 people to resign from Corbyn’s opposition policy team.

Reuters

Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.