The British pound rebounded on Tuesday as fears faded that the departure of two ministers would prompt an immediate challenge to Prime Minister Theresa May's leadership, while the yen fell against the dollar as investors bid up riskier assets.
Sterling turned positive on the day and rose to $1.3272 , having fallen to as low as $1.3189 on Monday, after Mrs May's foreign minister and Brexit negotiator quit in protest at her plans to keep close trade ties with the European Union.
Conservative policymakers said Mrs May is probably safe from a leadership challenge despite the resignations and that helped the beleaguered currency regain some ground, according to Reuters.
Still, the departures undermined her own proclamation of cabinet unity last Friday.
_______________
Read more:
Pound investors fear currency slide if May leadership challenged
Brexit’s big short: how hedge funds cashed in on exit polls
_______________
"The market is worried that yesterday's resignations could be a sign of major instability within the British government. However, we see little indication of that and assume May will survive and restart negotiations with Brussels ... sterling should correct its losses," said Commerzbank FX analyst Esther Maria Reichelt.
Markets still expect the Bank of England to hike rates at its next policy meeting on August 2, but analysts warn a full-blown political crisis could dent those expectations.
In opening trade on Tuesday, London edged higher despite upheaval over Mrs May's post-Brexit plan, AFP reported.
In initial deals, the British capital's benchmark FTSE100 index gained 0.1 per cent to 7,695.37 points compared with Monday's closing.
In the euro zone, Frankfurt's DAX 30 won 0.3 per cent to 12,580.31 points and the Paris CAC 40 added 0.2 per cent to 5,410.19.
COMPANY%20PROFILE
The specs
Engine: four-litre V6 and 3.5-litre V6 twin-turbo
Transmission: six-speed and 10-speed
Power: 271 and 409 horsepower
Torque: 385 and 650Nm
Price: from Dh229,900 to Dh355,000
COMPANY%20PROFILE
Palestine and Israel
Michael Young: Israel's 'iron wall' is sealing the country off from peace
Saeb Erekat: Palestine is capable of overcoming the coronavirus spread
Alexandra Chaves: Gazan artists paint to bring attention to the coronavirus
Third Test
Result: India won by 203 runs
Series: England lead five-match series 2-1
RESULT
Deportivo La Coruna 2 Barcelona 4
Deportivo: Perez (39'), Colak (63')
Barcelona: Coutinho (6'), Messi (37', 81', 84')
Draw
Quarter-finals
Real Madrid (ESP) or Manchester City (ENG) v Juventus (ITA) or Lyon (FRA)
RB Leipzig (GER) v Atletico Madrid (ESP)
Barcelona (ESP) or Napoli (ITA) v Bayern Munich (GER) or Chelsea (ENG)
Atalanta (ITA) v Paris Saint-Germain (FRA)
Ties to be played August 12-15 in Lisbon
MATCH INFO
Champions League quarter-final, first leg
Tottenham Hotspur v Manchester City, Tuesday, 11pm (UAE)
Matches can be watched on BeIN Sports
Juventus v Napoli, Sunday, 10.45pm (UAE)
Match on Bein Sports
EMIRATES'S%20REVISED%20A350%20DEPLOYMENT%20SCHEDULE
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
The specs
Price, base / as tested Dh135,000
Engine 1.6L turbo
Gearbox Six speed automatic with manual and sports mode
Power 165hp @ 6,000rpm
Torque 240Nm @ 1,400rpm 0-100kph: 9.2 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
THE SPECS
Engine: AMG-enhanced 3.0L inline-6 turbo with EQ Boost and electric auxiliary compressor
Transmission: nine-speed automatic
Power: 429hp
Torque: 520Nm
Price: Dh360,200 (starting)
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
Company%20Profile
Match info
Australia 580
Pakistan 240 and 335
Result: Australia win by an innings and five runs
RACE CARD
6.30pm Maiden Dh165,000 (Dirt) 1,200
7.05pm Handicap Dh165,000 (D) 1,600m
7.40pm Maiden Dh165,000 (D) 1,600m
8.15pm Handicap Dh190,000 (D) 1,600m
8.50pm Handicap Dh175,000 (D) 1,400m
9.25pm Handicap Dh175,000 (D) 2,000m
The National selections:
6.30pm Underwriter
7.05pm Rayig
7.40pm Torno Subito
8.15pm Talento Puma
8.50pm Etisalat
9.25pm Gundogdu
SPECS
Day 3, Abu Dhabi Test: At a glance
Moment of the day Just three balls remained in an exhausting day for Sri Lanka’s bowlers when they were afforded some belated cheer. Nuwan Pradeep, unrewarded in 15 overs to that point, let slip a seemingly innocuous delivery down the legside. Babar Azam feathered it behind, and Niroshan Dickwella dived to make a fine catch.
Stat of the day - 2.56 Shan Masood and Sami Aslam are the 16th opening partnership Pakistan have had in Tests in the past five years. That turnover at the top of the order – a new pair every 2.56 Test matches on average – is by far the fastest rate among the leading Test sides. Masood and Aslam put on 114 in their first alliance in Abu Dhabi.
The verdict Even by the normal standards of Test cricket in the UAE, this has been slow going. Pakistan’s run-rate of 2.38 per over is the lowest they have managed in a Test match in this country. With just 14 wickets having fallen in three days so far, it is difficult to see 26 dropping to bring about a result over the next two.
Company%20Profile
UAE%20athletes%20heading%20to%20Paris%202024
COMPANY%20PROFILE%20
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Diriyah%20project%20at%20a%20glance
Who is Ramon Tribulietx?
Born in Spain, Tribulietx took sole charge of Auckland in 2010 and has gone on to lead the club to 14 trophies, including seven successive Oceania Champions League crowns. Has been tipped for the vacant New Zealand national team job following Anthony Hudson's resignation last month. Had previously been considered for the role.