Sterling drops ahead of Theresa May's Tuesday Brexit speech

Monday, January 16th 2017 - 17:40 UTC

Full article 7 comments

The British pound has fallen against the dollar to below US$1.20 ahead of a key speech from Theresa May on Brexit this week. Sterling fell 1.5% against the US currency on Sunday to its lowest level since the flash crash in October. Read full article

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Briton
And your point is what,??
Jan 16th, 2017 - 08:41 pm - Link - Report abuse -1
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DemonTree
And ChrisR still thinks that a hard Brexit will make the pound rise immediately.
Jan 16th, 2017 - 09:22 pm - Link - Report abuse +1
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ElaineB
@DT

And probably that Trump offering to make a trade deal with the U.K. is a good thing. It isn't. We cannot make any deals until we actually leave the E.U. and in the meantime Trump will use it as leverage.
Jan 16th, 2017 - 09:46 pm - Link - Report abuse -2
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Idlehands
We can make deals that come into force on the day after Brexit. The EU seems to be having kittens about that and demanding we don't. I expect an EU invasion fleet to begin heading across the channel to prevent it. Fortunately it'll have to be Dover as they'd get lost if they couldn't see us.
Jan 17th, 2017 - 12:31 pm - Link - Report abuse -1
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ElaineB
@ Idlehands

We can't draw up any written agreements or sign anything until after we leave the E.U. contract. Of course there will be talk before then but nothing can be legally binding. I don't for one moment think the E.U. will go to war over it but the lawsuits could be punitive.

Interesting that Prime Minister May's statement today confirming there will be a vote in parliament before any final agreement has calmed the markets. I guess people take that as a chance to overturn Brexit if the deal is not better than staying in. Personally I don't think that is the case but with all the uncertainty the markets are going to be unpredictable.
Jan 17th, 2017 - 01:01 pm - Link - Report abuse -1
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The Voice
The pound has gone up since St Theresa's speech.
Jan 17th, 2017 - 01:39 pm - Link - Report abuse +1
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ElaineB
@ The Voice. Yes, for the reason I just stated. Because she has given a vote in both Houses before any Brexit deal is finalised.
Jan 17th, 2017 - 01:45 pm - Link - Report abuse 0
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