Sterling soars as May gives 'welcome clarity' on Brexit negotiations

Pound's best day since 2008

Sterling hit its biggest daily gain since 2008 after Prime Minister Theresa May calmed markets with the promise of more clarity around Britain's negotiations to leave the European Union.

May said the UK "cannot possibly" remain in the single market while not being in the EU as it would mean not leaving the union at all.  She also promised to give Parliament a vote on the final deal agreed with the EU and to seek new trade agreements with countries outside of the euro bloc. However, she also pledged to emerge from the Brexit negotiations "more united" and "outward looking", while she insisted that although the UK is leaving the EU, "we are not leaving Europe". At the same time, May calmed the fears of UK businesses, mentioning an "phased process of implementation" t...