Home Brexit Pound recovers ahead of May’s Brexit speech

Pound recovers ahead of May’s Brexit speech

17th Jan 17 11:00 am

Good news for the sterling…

After the pound falling sharply on Monday, it has since recovered in early trading as markets waited for Prime Minister Theresa May’s Brexit speech.

On Monday, the sterling had fallen below $1.20 against the dollar due to worries over a “hard-Brexit”, on Tuesday it recovered to $1.2127.

The FTSE 100 share index was down 28.12 points sitting at 7,299.01.

Shares in Rolls-Royce rose by 5.7 per cent to 703p.

Bakery firm Greggs, saw its shares rise by 3.8 per cent to £10.39 after the company reported that full-year profits were set to be beaten due to “strong” Christmas sales.

Like-for-like sales saw a growth of 6.4 per cent in the final three months of the year. As a whole sales were up 4.2 per cent.

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