The yen is sitting weaker this morning – although it has failed to break above the ¥101 mark.

The Japanese currency fell as much as 0.7 per cent to ¥100.91 in early trading, having closed 0.3 per cent weaker on Friday at ¥100.22. Last week a weaker US dollar pushed it below the ¥100 mark, to as low as ¥99.53, a level seen only a handful of times since 2013.

Meanwhile sterling remained under pressure following a sharp slide on Friday. It had fallen as much as 1.1 per cent to $1.3024 in the early afternoon, on renewed speculation about when prime minister Theresa May might trigger Article 50 to kick-start formal EU exit negotiations.

Having closed down 0.7 per cent, the pound fell as much as 0.3 per cent on Monday.

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