The pound has pulled off a fighting comeback from a two-year low against the dollar yet the UK’s markets are looking more bruised as evidence of a sharp economic slowdown mounts. The currency has gained for two weeks to end a month of losses, mostly thanks to ebbing demand for the dollar as a haven rather than positive local factors. The pressure on Britain’s companies is growing after an index of UK private sector growth unexpectedly slid in May. For some strategists, much of the bad news is now priced in. For others, another period of reckoning for the pound is likely. Doubts are rife over just how much the Bank of ... (full story)