Pound plunges as UK minister warns of Brexit ‘rollercoaster’
Finance minister Philip Hammond is warning that the UK’s economy faces ‘turbulence’, as ministers hammer out Brexit
BIRMINGHAM — The pound hit a three-year low against the euro on Monday after UK Prime Minister Theresa May said Britain will trigger Brexit negotiations by the end of March 2017, and her finance minister warned of economic "turbulence".Sterling dropped to 87.46p against the euro, the lowest level since August 2013, after May’s government gave more details about how the UK would leave the EU, at the Conservative Party conference in Birmingham, central England. Speaking before his keynote address on Monday, finance minister Philip Hammond warned that the UK’s economy faced "turbulence", as ministers hammered out Brexit, adding that consumer and business confidence could go up and down like a "rollercoaster".His comments came a day after May disclosed that the UK would start the two-year exit process by the end of March, putting it on track to leave by early 2019 and opening the door for painful negotiations with EU partners.The new premier, who took power in July after David Cameron q...
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