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GBP jumps on PM’s Brexit speech — #SaxoStrats
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UK prime minister Theresa May’s speech on the UK leaving the European Union has fuelled a rally in sterling, but how long will it last? Saxo Bank’s head of FX strategy John Hardy explains.
In 2016 the British public voted to depart the EU - ‘Brexit’ - and a two-year process is set to begin after Article 50 on European legislation is triggered.
Hardy examines the effects of the speech on GBPUSD and EURGBP.