Pound down in Asia
Nov 14, 2017-The pound sank against its major peers on Monday as British Prime Minister Theresa May’s future looks increasingly uncertain, while Asian equities were mostly down after a recent rally to multi-year highs. Markets have surged in recent weeks on optimism about the global economy and a series of strong corporate earnings. But investors have started to cash in as worries begin to emerge about high share valuations, while there are also fears about Donald Trump’s much-vaunted tax cuts as US lawmakers struggle to agree a deal. Sterling tumbled Monday after reports that dozens of MPs in the ruling Conservative Party were backing a move to oust May. The questions over the prime minister’s future come as her government’s handling of Brexit talks with the European Union attracts criticism from all sides.
Published: 14-11-2017 09:12