UK PM Theresa May Speech Today - GBP/USD heads towards 1.2480

GBP/USD heads towards 1.2480 as UK triggers Article 50

The Sterling is now regaining some bids as UK’s PM Theresa May is making her statement before the Parliament, sending GBP/USD to test the area of daily tops around 1.2470/80.

Theresa May Quotes:

“We all want United Kingdom, despite the dividing vote last June”

“Whether people voted for remain or leave, we now should respect the collective decision of the UK”

“If Scotland were to become independent from the UK, they would have needed to ask to be a member of the EU”

“We should look to have the maximum free trade between the two territories”

“We want a comprehensive package that allows us to control immigration but allows our business to keep free-trade access”

“What matters is the outcome of the deal, we want access to the free-trade area, and that’s what we are working for”

More on EU draft Brexit statement - Euractiv

Following are the main points from the draft EU statement, as reported by the Euractiv.com : Guidelines will set out the overall positions and principles in light of which the Union, represented by the European Commission, will negotiate with the United Kingdom

EU leaders ready for orderly Brexit, but prepared for failure

A draft European Council statement seen by EURACTIV, revealed that the EU member states regret that the UK will leave the Union, but noted that they “are ready for the process that now will have to follow”. The document states that the first step will be the adoption of guidelines for the negotiations by the European Council.