The pound struggled at 32-year lows against the dollar in Asia on Monday after reports said British Prime Minister Theresa May was ready to take the country out of the European Union in a so-called "hard Brexit". Sterling's retreat came with losses on most Asian stock markets as investors nervously await Donald Trump's inauguration speech on Friday, having been left disappointed at his lack of detail on economic policy at a news conference last week. AFP / Gal ROMA Pound vs dollar"The weekend reports were undoubtedly the factor that pushed the pound down," said Nomura forex strategist Yoshitaka Suda. Seoul lost 0.6 percent, Singapore retreated 0.7 percent and Taipei slipped 0.9 percent, although Sydney edged up 0.5 percent. In early European trade London rose 0.2 percent on the back of the weaker pound, but Paris fell 0.5 percent and Frankfurt lost 0.6 percent.

Source: Egypt Independent January 16, 2017 11:34 UTC