The BBC note that the prime minister has come under growing pressure to quit following a week in which she was forced to ask the EU for an extension to Article 50, and criticised for blaming the delay to Brexit on MPs:
"Newspapers claim cabinet ministers are plotting a coup against the prime minister, aiming to replace her with a caretaker leader until a proper leadership contest is held later in the year."
"Two ministers touted as a potential caretaker PM in reports of a cabinet coup say they fully back Theresa May."
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GBP/USD remains heavy below 1.2300 amid UK bond market sell-off
GBP/USD stays deep in the red below 1.2300 after recovering modestly from the 14-month-low it set below 1.2250. The pair bears the brunt of the UK bond market sell-off, with the 10-year gilt yield touching highest since August 2008.
EUR/USD holds near 1.0300, markets await comments from Fed officials
EUR/USD remains on the back foot at around 1.0300 on Thursday following mixed German Industrial Production and Eurozone Retail Sales data. The cautious market mood supports the USD and doesn't allow the pair to stage a rebound as market focus shifts to Fedspeak.
Gold climbs to new multi-week high above $2,670
Gold extends its weekly recovery and trades at its highest level since mid-December above $2,670. The benchmark 10-year US Treasury bond yield corrects lower from the multi-month high it touched above 4.7% on Wednesday, helping XAU/USD stretch higher.
Bitcoin falls below $94,000 as over $568 million outflows from ETFs
Bitcoin continues to edge down, trading below the $94,000 level on Thursday after falling more than 5% this week. Bitcoin US spot Exchange Traded Funds recorded an outflow of over $568 million on Wednesday, showing signs of decreasing demand.
Recent developments in the global economy
United States: Recent business surveys suggest that the clean election outcome has led companies that delayed investment and hiring due to election/regulatory uncertainty to start putting money to work.
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