Here’s Why GBP Soared on May’s Hard Exit Plans
Daily FX Market Roundup 01.17.17
Who would have thought that Prime Minister May’s plans for a hard exit from the European Union would trigger the strongest one day rally for the sterling versus the U.S. dollar since 2008?
A lot was said in this morning’s speech but at the end of the day, there were 4 main takeaways:
1. Britain is not seeking partial membership of EU – No Half In, Half Out
2. May won’t be proposing membership of EU Single Market
3. Government will put final deal to vote in Parliament
4. May will seek to avoid a disruptive Brexit cliff-edge – will aim for Phased Transition
read the rest here
http://www.bkassetmanagement.com/featured/heres-why-gbp-soared-on-mays-hard-exit-plans_10378/
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