The White House and State Department were scheduled to hold a press briefing but they have canceled it, waiting for Mubarek to speak first. CNN reports Mubarek is trying to avoid losing his grip on power and does to want to come across as week.
The US is pressing for reforms from Mubarek rather than supporting the protesters full-on. Probably a case of the devil you know is better than the level you don’t…
We’re consolidating the flight-to-quality trade though we may see another round before US cash markets close at 21:00 GMT.