Home Business Pound Slips Ahead Of May’s Brexit Speech

Pound Slips Ahead Of May’s Brexit Speech

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British pound. (File: Xinhua/Then Chih Wey/IANS) by .
British pound (File: Xinhua/Then Chih Wey/IANS)

The British pound slipped against the euro ahead of Prime Minister Theresa May’s Brexit speech with a proposal for a transitional deal that could cost the country billions….reports Asian Lite News

British pound. (File: Xinhua/Then Chih Wey/IANS) by .
British pound (File: Xinhua/Then Chih Wey/IANS)

The pound was now down 0.5 per cent against the euro at 1.1312, reports the Guardian.

Meanwhile earlier gains against the dollar have evaporated, with the pound down just a touch by 0.03 per cent at $1.3573.

May will outline her plans in a speech in Florence, Italy, on Friday in which she will call for European negotiators to be more “imaginative and creative” in their efforts to reach the two-year transitional deal, after March 2019, ahead of a permanent trade deal, reports CNN.

She is likely to commit Britain to continue paying into the European Union (EU) budget in return for continued access to its tariff-free market for a limited period, according to the British media.

In a statement, Downing Street said May would use her Florence speech to “discuss a vision for a bold new economic and security partnership and set out the Prime Minister’s plan for a time-limited implementation period, offering certainty and clarity to businesses and citizens”.

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