Sterling falls as May signals 'hard' Brexit

First TV interview of 2017

Anna Fedorova
clock • 2 min read

Prime Minister Theresa May has indicated she is leaning towards a 'hard' Brexit, with intentions to prioritise immigration over access to the single market, despite multiple calls for the latter from UK businesses.

In her first television interview of the new year, the Prime Minister (pictured) told Sky News her key focus is on immigration and lawmaking, not the single market, suggesting she is not interested in keeping "bits of [EU] membership". Sterling fell on the news, trading 0.9% lower against the US dollar at $1.2180 at 8am GMT on Monday morning, while it was also 0.9% lower against the euro at €1.1561. May said in the interview: "We are leaving. We are coming out. We are not going to be a member of the EU any longer, so the question is what is the right relationship for the UK to have wi...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

UK space sector deals skyrocket five-fold over course of a decade
UK

UK space sector deals skyrocket five-fold over course of a decade

Faster growth than UK economy

Linus Uhlig
clock 27 November 2024 • 2 min read
'Significant price pressures' ahead as retail faces £7bn of additional costs
UK

'Significant price pressures' ahead as retail faces £7bn of additional costs

‘End of falling inflation’

Sorin Dojan
clock 26 November 2024 • 1 min read
Bank of England to embark on largest reform since gaining independence following Bernanke review
UK

Bank of England to embark on largest reform since gaining independence following Bernanke review

‘Largest reform’ since 1997

Sorin Dojan
clock 25 November 2024 • 2 min read
Trustpilot