Pound down in Asia as May’s future uncertain

HONG KONG: The pound sank against its major peers on Monday as British Prime Minister Theresa May’s future looks increasingly uncertain, while Asian equities traders moved cautiously after a recent rally to multi-year highs.

Markets have surged in recent weeks —with Wall Street hitting several records and Tokyo touching 26-year high —on optimism about the global economy and following a string of strong corporate earnings.