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3/29/2017, 2:02 PM (Source: TeleTrader)
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Sterling jumps to daily high as Brexit begins

The British pound climbed to a session high of 1.594 against the euro and 1.2477 compared to the dollar after the United Kingdom triggered the Article 50 of the Lisbon Treaty and thus officially started the Brexit process.

Sterling rose 0.62% compared to the euro to go for 1.1586 at 2:06 pm CET and it edged up 0.02% against the dollar to change hands for 1.2452 at 2:07 pm CET. 

Meanwhile, the FTSE 100 index traded lower after Prime Minister Theresa May confirmed the letter which informs the European Union on the UK's intention leave the bloc was handed over to European Council President Donald Tusk. May also provided the members of parliament with details on the content of the letter and her plan on how to lead the Brexit negotiations. The FTSE 100 declined 0.37% at 2:09 pm CET.

Breaking the News / NP