Cable Forum - View Single Post - Post-Brexit Thread

1andrew1 · 16-01-2017, 22:32

Pound slumps to 1980s levels as May defies will of the people* and opts for hard Brexit

Theresa May to lay out clean break from EU

Theresa May will test the nerves of currency markets on Tuesday when she declares that Britain is making a clean break from the EU and will not seek a deal that leaves the country “half in and half out”.

Mrs May’s comments will be seen as confirmation that Britain is leaving the single market — sometimes referred to as “a hard Brexit” — although she will leave open the door to the UK opting back in to parts of the customs union.

The pound briefly fell below the $1.20 mark on Monday — a level at which the currency has not regularly traded since 1985 — as markets prepared for Mrs May’s speech. The prime minister’s previous Brexit interventions have typically led to a fall in the pound.
Google headline or subscriber link at https://www.ft.com/content/8d94b1b2-...c-be108f1c1dce

* http://www.independent.co.uk/news/uk...-a7530576.html

16-01-2017, 22:32	#3792
1andrew1 cf.mega poster Join Date: Dec 2013 Posts: 14,231	Re: Post-Brexit Thread Pound slumps to 1980s levels as May defies will of the people and opts for hard Brexit* Theresa May to lay out clean break from EU Theresa May will test the nerves of currency markets on Tuesday when she declares that Britain is making a clean break from the EU and will not seek a deal that leaves the country “half in and half out”. Mrs May’s comments will be seen as confirmation that Britain is leaving the single market — sometimes referred to as “a hard Brexit” — although she will leave open the door to the UK opting back in to parts of the customs union. The pound briefly fell below the $1.20 mark on Monday — a level at which the currency has not regularly traded since 1985 — as markets prepared for Mrs May’s speech. The prime minister’s previous Brexit interventions have typically led to a fall in the pound. Google headline or subscriber link at https://www.ft.com/content/8d94b1b2-...c-be108f1c1dce * http://www.independent.co.uk/news/uk...-a7530576.html Last edited by 1andrew1; 16-01-2017 at 22:36.