Market News

Sterling weakens on investor cautiousness ahead Theresa May Brexit speech Friday

 
 

The pound is down versus the US dollar and the euro this Friday, ahead of Prime Minister Theresa May's speech on Brexit in Florence later today. 

Prior to Mrs May's address, the financial community expects that the potential reactions from EU leaders could have a large-scale impact on the pound strengthening or weakening before the weekend commences. 

Investors appear cautious this morning, as we witness sterling down 0.5% against the euro, currently trading at €1.1312. The pound weakened 0.03% versus the USD, now at $1.3573. 

During the speech, the Prime Minister is expected to lay out the British government's plan to break the EU divorce deadlock. The speech occurs just days after a poll came out indicating that 52% of UK citizens want to remain a part of the Union.