Last year Britain voted for withdrawal from the European Union. The decision of the British put the country’s leadership in a difficult position – the procedure has never been done before and thus required considerable preparation. It took the officials six months to prepare documents. And now the implementation of Brexit has officially started.
The natural consequence is reducing the price of the pound sterling in relation to the dollar and the Japanese yen. The British currency lost 0.5% in both of these currency pairs. As of this morning, the pound has fallen to an intraday low from January 17 and 21 (relating to the Japanese yen and the US dollar, respectively).
Theresa May, who has been holding the post of Prime Minister of the United Kingdom from the middle of July last year, starts the official withdrawal today at 12:30.
The official letter has already been signed and at half past twelve it will be received by Mr. Tusk, President of the European Council.
Also, the Prime Minister’s speech in the Parliament of the United Kingdom has been scheduled for today.
The material was prepared with the participation of Vladimir Haritonov,
a leading analyst of the brokerage company VOSPARI.