Industry reacts: 'May's Brexit steeplechase has only just begun'

Volatility expected for 'some months'

As Prime Minister Theresa May reveals her draft Brexit deal, industry commentators assess its impact on financial markets in both the short-term and over the coming years during the 'divorce' transition period.

Karen Ward, chief market strategist for EMEA at J. P. Morgan Asset Management said the pound should see a boost on passage of the bill, which would in turn hit the FTSE 100 given the high proportion of FTSE earnings that are repatriated. She commented: "Going in to next year we expect business investment to experience a relief rally and higher sterling to depress inflation and lift real wages so consumer spending would also accelerate. "Given the Bank of England believe that the economy is already at capacity we think it will raise interest rates at a faster pace than the market curre...