Yahoo Finance Pound dives below $1.31 against the dollar as pressure mounts on Theresa May
Sterling slips below $1.31 against the dollar as pressure mounts on Theresa May
Pound falls 0.8pc against a basket of the leading currencies as report says that 40 Tory MPs are ready to sign a letter of no confidence; leaked letter also shows Boris Johnson and Michael Gove pushing for a hard Brexit
FTSE 100 rebounds after shares slipped across the globe at the end of last week
Bitcoin slips from record high
The pound isn't the only currency on the move this morning. Since Friday, the digital currency Bitcoin has tumbled as much as 21pc after a technology upgrade was cancelled.
But Bitcoin is like elastic and it came bouncing back, paring most of its losses this morning to rise above $6,000 per bitcoin.
I call it a currency but anyone who has tried to use it as a normal currency, in the UK at least, will know that it's about as useful in your wallet as buttons and fluff.
@Schuldensuehner: #Bitcoin plunges 29% from a record high as offshoot called bitcoin cash is luring users amid tech debate. https://t.co/eHTcyGRohapic.twitter.com/htVJPVa69c
— JDR consultores (@jdrconsultores) November 13, 2017
Agenda: Pound slips as pressure mounts on Theresa May
A revolt in the Conservative Party against Theresa May has turned up the heat on sterling this morning with the latest setback for the prime minister dragging the pound back below $1.31 against the dollar.
The pound has dived 0.8pc after a report signalled that 40 Tory MPs have agreed to sign a letter of no confidence and a leaked letter from foreign secretary Boris Johnson and environment secretary Michael Gove to Mrs May showed them pushing for a hard Brexit.
With CPI, wage growth and retail sales figures all due, it's a packed week for economic releases but this morning traders only have second tier data to digest in house price figures from Rightmove.
Asia shares start the week in risk-off mode, down on uncertainty over US tax reform plans and continued profit taking. Sterling falls as UK's May faced a widening revolt within her own party. Oil supported on tension in Saudi Arabia. pic.twitter.com/7NdkvrC62n
— Holger Zschaepitz (@Schuldensuehner) November 13, 2017
The FTSE 100 has rebounded this morning after sliding in the global mini-sell-off at the back end of last week.
Taylor Wimpey's update to the market this morning will have allayed some concerns in the housebuilding sector that sales are slowing after weaker-than-expected figures from Persimmon and Redrow last week. The housebuilder has inched into positive territory this morning, rising 0.2pc.
Interim results: Zoo Digital, AdEPT Telecom, McKay Securities, Datatec
Full-year results: Lonmin, Carr's, IDOX
Trading statement: Taylor Wimpey, Dignity, Ladbrokes Coral, Senior, SOCO International, Ferroglobe, Atlantica Yield
