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.


US Dollar index keeps edging up on American upbeat mood

On Friday, the evergreen buck kept tacking on versus other key currencies after the minutes of the Fed’s latest policy gathering along with Thursday’s upbeat data powered optimism as for the strength of the American economy…

Evergreen buck is at 1-1/2 week maximums on Fed minutes

On Thursday, the main US currency was seen at one-and-a-half week maximums versus a group of key rivals, following overnight revenues after minutes of the Fed’s January gathering underlined hopes for faster lifts in American interest rates…


Crude edges down in Asia on Caixin PMI

On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…

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