Theresa May’s Brexit comment sends pound 0.7% down against rand
May said she was not interested in keeping "bits of membership" of the EU, and instead wanted a bespoke deal
London — Talk of Britain dramatically reworking trade ties with the EU after Brexit sent the pound tumbling to two-month lows on Monday, as signals the US could raise interest rates three times this year lifted the dollar. The rand was 0.7% stronger at R16.71/£ at 11.35am. The pound slid around 1% against both the dollar and the euro in early trading after weekend comments from British Prime Minister Theresa May that she was not interested in keeping "bits of membership" of the EU. May said she instead wanted a bespoke deal and also denied criticism that she was "muddled" in the pursuit of what she called the right relationship with the EU, the country’s largest trading partner. Sterling fell 0.9% to as low as $1.2164, its weakest against the dollar since the end of October. It fell 1.1% against the euro too, hitting 86.65 pence per euro, the lowest since mid-November. "The most significant thing is May’s comments over the weekend (on a Brexit deal) triggering a significant sterling...
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