Theresa May committing to Brexit weighs on Sterling

Theresa May, who has been ushered into the position of leading Britain and the conservative party, will take up her position this Wednesday.

May has made some comments recently trying to encourage the nations to unitie and move forward in difficult and uncertain times while sticking to the Brexit motive:

• "We're going to give people more control over their lives

• We're going to make a success of Brexit

• We need to unite our country

• We face difficult and uncertain economic time."

On the back of the comments, GBP/USD has trickled lower from 1.2959/00 down to 1.2962 so far. The markets are starting to beieve the hype that indeed Britain will leave the EU and that is negative for Sterling.