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Pound in biggest intraday rally since 2008 as May sets out hard
Brexit plan
Published time: 17 Jan, 2017 14:38

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One pound coins spilling out of clip purse with Union Jack design Getty Images
16

Sterling soared on Tuesday following UK Prime Minister Theresa Mays promise

the Brexit deal will be put to a parliamentary vote. She confirmed the UK would
leave the EU but pledged a flexible transitional deal.
The pound was up around one percent against the US dollar when May started
her speech. It surged 2.37 percent to $1.2332 at 1:52pm GMT.

+2.75% !!! pic.twitter.com/so878Fli77

Mike Bird (@Birdyword) January 17, 2017
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This marked the biggest one-day gain for the British currency against the
greenback in nine years. Sterling was up 0.7 percent against the euro at 1.1445.
I can confirm today that the government will put the final deal thats agreed
between the UK and the EU to a vote in both Houses of Parliament before it
comes into force, May said in a speech to diplomats.
Britain's blue-chip index the FTSE 100, which is dominated by overseas earners,
was down 0.4 percent initially and edged lower falling 0.61 percent to 7282.
The FTSE 250 index, which contains more UK companies, was also down 0.35
percent at 18,253.44.

Hard #Brexit precedent. pic.twitter.com/dOZLmMuaAT

Pedro da Costa (@pdacosta) January 17, 2017
The Prime Minister has outlined 12 priorities for upcoming talks with the
European Union on the terms of Britain's departure, vowing a clean break that
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does not leave the UK half in, half out.

She said the British government would pursue a "bold and ambitious" free trade
agreement.

"What I am proposing cannot mean membership of the EU single market," May

said, adding she will seek the "greatest possible access" to the EU.
The PM also said that she does not want to see a "cliff edge for business,
understanding how important it is to provide business, the public sector and
everyone with "as much certainty as possible."

Pound Stumbles: #Brexit fears sends sterling toward 31yr low

https://t.co/WZT0aO1fLU
RT (@RT_com) January 16, 2017
May said there would be no more massive UK contributions to the EU budget,
possibly some modest payments.
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Because we will no longer be members of the single market, we will not be

required to contribute huge sums to the EU budget. There may be some specific
European programs in which we might want to participate, she said.
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 Autonomous Nonprofit Organization TV-Novosti, 20052017. All rights reserved.

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