Monday, 9 January 2017

UK pound slides after May appears to signal 'hard Brexit'

The pound has fallen to its lowest level since October after Prime Minister Theresa May suggested the country was heading for a clean break from the European Union. The pound fell one cent to USD 1.21 today May signaled in an interview with Sky News over the weekend that the UK is likely to leave the bloc's single market in goods and services. She said Britain won't try to keep "bits of membership" once it leaves. Some traders read the comments to suggest she was prepared to trade with the EU as if it were any other country outside Europe, without any form of privileged status.

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