May's team out of target

Theresa May's Cabinet ministers believe that the chances of reaching a Brexit deal with the U.K.'s main opposition Labour Party are fading, according to people familiar with the matter.

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Us-China leading Usd/JpY down

USD/JPY has broken Monday's early low in a fall to the worst levels since late March. Sliding US stocks and Treasury yields along with deepening worries about a US-China trade war are hitting the pair.

The total drop today is 54 pips and now but now  broke 110.30 is a negative techincal development. Still, it's not overly damaging. There is some support at the March 28 low just ahead of 110.00 and a cluster of mid-March lows near 109.75.

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Theresa May must go now, former Tory leader says

 Mr Duncan Smith, a leading Brexiteer in the party, said many Conservatives would refuse to back a deal reached between the two parties.

If she did not go, the 1922 Committee of backbench MPs would have to force her to do so, he said.

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Us Feds Mester: Supports Feds patience approach

Loretta Mester is not a voting member. 

• Does not see inflation pressures building
• I fully support our patient approach
• interest rates are appropriate where they are
• We have a strong labor market
• Stable prices
• Producitivy is positive and moving in the right direction. Productivity growth is positive for the economy
• Good reason to think some low inflation is transitory
• Rates are about at neutral 
• We have to take seriously our 2% inflation goal
• The economy is in a really strong place
• Expects 2- 2 1/2% growth this year
• Some of the global headwinds have subsided. 
• I would be concerned if inflation expectations fell
• Risk is balanced right now

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