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Sterling under pressure as pressure mounts on Theresa May
The concerns over how tax reform is going to pan out in the US and the potential slippage in terms of delivery is impacting on equity markets. This helped to pull equities lower into the close on Friday and continues to hang over the markets into the new trading week. There has been a strong rebound on longer dated Treasury yields which has pulled the 10 year back towards 2.4% and this has helped to stabilise the dollar once more as yield differentials are again pulled back in the favour of the dollar bulls. However this is more part of a recent consolidation amongst the forex majors and unless there is a sustainable ... (full story)