British pound rebounds as trouble mounts for May

British pound rebounds as trouble mounts for May

On Monday, the British pound tumbled because troubles mounted for UK Prime Minister May. According to a report up to 40 Conservative MPs are waiting for a leadership challenge. Meanwhile, Brexit talks face a key deadline.

The evergreen buck obtained a lift versus its key counterparts because American yields grew and as the British pound declined. However, traders were still focused on a planned American tax overhaul.

The British pound last slumped 0.55% being worth $1.3120, drifting away from an eight-day maximum of $1.3229 scaled on Friday on better-than-anticipated data on British industry.

The Sunday Times informed that 40 members of parliament from May's Conservative Party have decided to have a letter of no-confidence in her signed.

Versus the Japanese yen, the British pound declined 0.45% being worth 149.12 yen.

The US currency soared 0.1% trading at 113.660 yen. As for the common currency, it lost 0.1% hitting $1.1653.

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