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Pound hit by Brexit fears as FTSE 100 touches fresh record high – business live

Discussion in 'Market News' started by Lily, Jan 9, 2017.

  1. Lily

    Lily Forum Member

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    Sterling has fallen to its lowest level since October after Theresa May suggests Britain will leave the Single Market after Brexit


    8.21am GMT

    The Sun’s Tom Newton Dunn points out that today selloff has wiped out the pound’s recent rally (it rose from $1.21 to $1.27 in November, before dipping in December).

    Pound falls to £1.219 overnight - down 1% - after Theresa May's single market departure hint. So much for the rebound.

    8.08am GMT

    Newsflash! The pound has fallen to its lowest level in over two months, as fears of a ‘hard Brexit’ sweep through the City.

    Sterling has shed 1% against the US dollar in early trading to $1.2166, down from $1.228. That’s its lowest point since the end of October, and 18% below its value before last June’s referendum.

    British Pound at weakest level against dollar since October. https://t.co/AIBRogtxmS pic.twitter.com/56eStDSII0

    “Often people talk in terms as if somehow we are leaving the EU but we still want to kind of keep bits of membership of the EU. We are leaving. We are coming out. We are not going to be a member of the EU any longer.

    We will be able to have control of our borders, control of our laws.”

    Comments from UK PM Theresa May in a TV interview broadcast Sunday are being interpreted as an indication that the UK government will prioritise immigration control over single market access in its negotiations on exiting the EU.

    7.50am GMT

    Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

    City traders trudging to work this morning have two issues on their mind (well, three, if you include today’s tube strike).

    Settling in for a long bus journey to Victoria. Only standing room left in some buses departing from Hackney #TubeStrike pic.twitter.com/7XPYPwPfuw

    Our European opening calls:$FTSE 7233 +0.32%
    $DAX 11635 +0.31%
    $CAC 4925 +0.31%$IBEX 9546 +0.32%$MIB 19770 +0.42%

    German industrial production rises in sign of economic recovery https://t.co/6IBgQjPK1N via @carolynnlook pic.twitter.com/tJkP5teZlc

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