Pound Falls as Britain Heads for a ‘Hard BREXIT’

The fact that the pound is down 1% on news that Theresa May said Britain would trigger article 50 in March (the mechanism necessary to leave the EU) suggests that the market didn’t think the U.K. would do it. There have been numerous stories and rumors regarding whether or not May would follow through with her promise to leave the EU.

Now we know she’s serious, as Britain heads towards what many call a ‘hard BREXIT’, which means leading without first getting assurances.