This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.

You can find the current article at its original source at http://www.bbc.co.uk/news/business-37538459

The article has changed 13 times. There is an RSS feed of changes available.

Version 0 Version 1
Pound falls as Theresa May sets Brexit process date Pound falls as Theresa May sets Brexit process date
(35 minutes later)
Sterling has fallen to its lowest level against the dollar since early July after the prime minister set a date for starting Brexit negotiations. Sterling falls to its lowest level against the dollar since the beginning of July after Theresa May outlines the timetable for starting Brexit negotiations.
Theresa May said she would trigger Article 50, the clause needed to start the process, by the end of March 2017.Theresa May said she would trigger Article 50, the clause needed to start the process, by the end of March 2017.
That means the UK is likely to leave the EU by mid-2019.That means the UK is likely to leave the EU by mid-2019.
A short while ago the pound was down about 1% against the dollar at $1.2854 and nearly 1% against the euro at €1.1440. In morning trade the pound was down 1% against the dollar at $1.2854 and nearly 1% against the euro at €1.1440.
Mrs May's announcement had "unsurprisingly, been bad news for the pound," said Connor Campbell, Spreadex financial analyst. Mrs May's announcement had "unsurprisingly, been bad news for the pound", said Connor Campbell, Spreadex financial analyst.
"Sterling has been spooked by May's promise to trigger the dreaded Article 50 by the end of March 2017."Sterling has been spooked by May's promise to trigger the dreaded Article 50 by the end of March 2017.
"Not only that, the PM has also put her weight behind a 'hard Brexit' to appease the more rabid members of the Tory party, something that is set to cause conflict between her and her backbenchers," he added."Not only that, the PM has also put her weight behind a 'hard Brexit' to appease the more rabid members of the Tory party, something that is set to cause conflict between her and her backbenchers," he added.
"Combine all this volatility together and the pound has been left at its worst price since the start of July.""Combine all this volatility together and the pound has been left at its worst price since the start of July."
Sterling fell to its lowest intraday level against the dollar following the EU referendum on 6 July when it hit $1.2797. Sterling fell to its lowest intraday level against the dollar since the day after the EU referendum on 6 July, when it hit $1.2797.
"Hard" Brexit could involve the UK refusing to compromise on issues like the free movement of people, leaving the EU single market and trading with the EU as if it were any other country outside Europe, based on World Trade Organization rules.
This would mean, at least in the short term before a trade deal was done, the UK and EU would probably apply tariffs and other trade restrictions on each other.
At the other end of the scale, a "soft" Brexit might involve some form of membership of the European Union single market, in return for a degree of free movement.
Meanwhile, the FTSE 100 has risen by more than 1% so far on Monday.
It fell sharply in the immediate aftermath of the referendum, but has subsequently recovered and is up nearly 10%, because listed exporting firms have benefited from the fall in sterling.