Pound hits lowest level in 3 months ahead of Theresa May Brexit speech January 16, 2017 - 15:48 AMT PanARMENIAN.Net - The pound has hit its lowest level for more than three months on reports Britain was set to quit the EU single market as part of its Brexit plans, BBC News reports. Sterling fell below the $1.20 level before recovering slightly on Monday, January 16. The pound also dropped to a two-month low against the euro, falling more than 1% to about €1.13 in Asian trading. Analysts said traders were reacting to reports that UK Prime Minister Theresa May would use a speech on Tuesday to signal a so-called "hard Brexit". Reports have suggested she will signal pulling out of the EU single market and customs union, although Downing Street described this as "speculation". The pound has fallen about 20% against the dollar since June's EU referendum, to lows last regularly seen in 1985. Much of that volatility has been due to uncertainty about the economic impact if the UK gives up its tariff-free access to the EU. Related links:   Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads.   Partner news |  Latest news The Power of One Dram to benefit Road of Life charity  The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization.Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia.Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty.Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |
