Sterling regains momentum as Article 50 trigger looms

Flat against the greenback as of 10.20am

Sterling has rebounded against the greenback after losing ground earlier in the morning, as Prime Minister Theresa May is set to officially start the UK's formal proceedings to leave the European Union later today.

The letter which triggers Article 50 is expected to be delivered to the EU in Brussels just after 12.30pm GMT, triggering two years of uncertain negotiations between the UK and the EU, according to Reuters. Sir Tim Barrow, Permanent Representative of the UK to the EU, will present the Prime Minister's letter of withdrawal to the European Council President Donald Tusk and will then make an address in London this afternoon. Will triggering of Article 50 be a damp squib? As of 10.20am, sterling was down just 0.07% against the dollar at $1.2443, while the FTSE 100 also remained relativ...