• Associate Sponsor

Pound sags amid ‘hard Brexit’ signals ahead of May speech

British media say she'll signal a willingness to take the UK out of the EU's single market in goods and services in order to gain control over immigration.

By: AP | London | Published: January 16, 2017 5:10 pm
Theresa May, May, british Prime Minister, British PM Theresa May, Brexit, Brexit summit, EU, european Union, Britain government, world news Britain’s Prime Minister Theresa May (File Photo)

The British pound fell to a three-month low amid reports Prime Minister Theresa May will signal her willingness to make a clean break with the European Union. The currency fell below USD 1.20 before recovering slightly today. It has lost about a fifth of its value since Britain voted in June to leave the EU.

Watch What Else Is Making News 

May is due to disclose details of Britain’s plan for leaving the EU in a speech tomorrow. Her office says she will call for a “global Britain” open to the world.

British media say she’ll signal a willingness to take the UK out of the EU’s single market in goods and services in order to gain control over immigration. That prospect alarms many in Britain’s huge financial services sector, which relies on EU access.

For all the latest World News, download Indian Express App

  1. V
    veeraraghavan vs
    Jan 16, 2017 at 11:51 am
    Britain is likely to be isolated further for this emotional but illogical decision. Pound is likely to go down further as businesses start moving out of UK.
    (0)(0)
    Reply