Tuesday, 17 January 2017

Asia stocks and pound sag, May speech awaited for Brexit stance


Asian stocks and the pound sagged on Tuesday ahead of a speech by British Prime Minister Theresa May that could have implications for broader risk sentiment. Media have reported that May, due to speak later on Tuesday, will lay out plan to exit the European Union that would see Britain lose access to the bloc's single market. Fears of such a "hard Brexit" have beaten sterling down to three-month lows against the dollar and sapped broader investor appetite for equities this week.

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