Sterling jumps as May promises parliament vote on Brexit 

pound

Sterling jumped today by the most since June’s Brexit referendum as UK Prime Minister Teresa May promised a parliamentary vote on Britain’s deal to leave the European Union.

The Prime Minister also stressed that the UK would seek to stay a key European partner.

The pound, already up more than 1% as May began to deliver a keenly-awaited speech that had been extensively leaked to media, surged to $1.2340 from $1.2055 yesterday.

It also gained around 0.8% to stand at 87 pence per euro.
Analysts said this reflected a broader sell-off in the dollar globally driven by concerns over Donald Trump’s presidency.

The FTSE 100, which has tended to rise as sterling falls, extended an early drop led by exporters and mining companies as May spoke.

Source: RTE

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