- British Pound gaps down over 1.5% vs. majors on “hard Brexit” fears
- UK PM could to decide out of ecu single market, are trying to find trade offers somewhere else
- Treasury will are seeking to reassure investors, discuss to banks after may just speech
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The British Pound gapped down over 1.5 percent towards its main counterparts on the open of the buying and selling week amid worries that UK prime Minister Theresa could will outline plans for a “onerous Brexit” – that means a loss of UK get entry to to the eu single market – in a speech on Tuesday.
The Sunday times newspaper stated that may will come out in want of the controversial step so that you could rein in immigration and pursue change deals with other international locations. the united kingdom Treasury mentioned it’ll are seeking for to reassure investors and intends to speak to banks after the high Minister’s speech, in keeping with feedback relayed by way of Bloomberg.
— Written by Ilya Spivak, foreign money Strategist for DailyFX.com
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