The pound falls after Theresa May’s Brexit hint

Theresa MayBritain's Prime Minister Theresa May speaks to members of the Charity Commission for England and Wales at The Royal Society in London, where she detailed plans to provide greater support for those suffering mental health problems, Monday Jan. 9, 2017. (Dan Kitwood/PA via AP)

The pound fell to its lowest level since October last year, after the British Prime Minister Theresa May suggests that there could be a hard Brexit.

On Monday morning the pound had fallen to $ 1.2, down more than 1 percent from Friday. It happened after May on Sunday hinted that her government might abandon the EU’s common market in the Brexit negotiations.

May is supported by pro-Brexit politicians, but opponents accuse her for not providing enough details about her negotiating position.

In an interview on Sunday, May said many people ‘talk like when we leave the EU, we want to continue to retain bits of the membership. ”

– We bid farewell. We get out. We’re not going to be an EU member anymore, she told Sky News.

– We will be able to control our own borders and our own laws, she continued.

The British prime minister has previously said that she plans to trigger Article 50 of the Lisbon Treaty by the end of March. The parties will then have two years in which to agree a deal before the withdrawal takes effect.

 

Source: NTB scanpix / Norway Today

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