- Posted by currencies in Bank of England, Brexit, Currency, Dollar, Economy, EUR, GBP, Prime Minister, Sterling, UK, Uncategorised
- March 29, 2017
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Sterling slipped to an eight-day low against the dollar today, just hours before Prime Minister Theresa May was due to trigger two years of negotiations to take Britain out of the European Union.
Nine months after Britons voted to leave, May will notify EU Council President Donald Tusk that the UK really is quitting the bloc it joined in 1973, in a letter due to be hand-delivered by Tim Barrow, Britain’s permanent representative to the EU, at around 1130 GMT.
The prime minister, who on Tuesday signed the Brexit letter and spoke to German Chancellor Angela Merkel about the future talks, will update the British parliament on Wednesday, while Tusk is due to give a briefing to reporters.
Some strategists said Tusk’s response would be more important for investors than May’s letter itself.
How will the pound rect this afternoon.