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Global Markets: Asia rallies on US jobs relief, pound pinched by politics

Reuters  |  SYDNEY 

By Wayne ColeSYDNEY (Reuters) - Asian shares rallied on Monday as favourable U.S. jobs data whetted risk appetites, while sterling wobbled after the shock resignation of two UK ministers over Brexit threatened the survival of Prime Minister Theresa May.The pound peeled off around a third of a U.S. cent to $1.3290 as news broke British Brexit Secretary David Davis and Brexit Minister Steven Baker had resigned.The move came just two days after a meeting at May's Chequers country residence supposedly sealed a cabinet deal on Brexit and underlines the deep divisions in her ruling Conservative ...

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First Published: Mon, July 09 2018. 11:40 IST