Sterling falls to seven-week low on Brexit deadline

UK-Currency-Money-Coin-Pounds-GBP-700x450Sterling dropped to a seven-week low following Prime Minister Theresa May’s announcement she will trigger Article 50 by the end of March, with Britain set to leave the European Union by early 2019.

The British currency was down to $1.2886 against the dollar this morning, marking its lowest level since August.

However the FTSE 100 shrugged off Brexit concerns, with the blue-chip index making gains of 0.75 per cent in early trading, up at 6,951.05.