Sterling bounces as PM May clings to Brexit deal after resignations

The pound rallied as much as half a percent on Friday as British Prime Minister Theresa May said she would pursue her Brexit plan after resignations in her government sent sterling tumbling.

The currency rose to a day’s high of $1.2834, up half a percent on the day, as May struck a defiant tone on Friday and vowed to take Britain out of the European Union next March as planned.

Against a stronger euro, the pound traded up 0.1 percent at 88.58 pence after suffering its biggest daily decline on Thursday since October 2016.

 

/reuters.com

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