The UK PM's speech continues 17 Jan

  • sees a new and equal partnership with EU
  • Brexit was a vote to restore parliamentary democracy not an attempt to harm EU or member states
  • final Brexit deal will be put to a vote in both houses of parliament

That highlighted comment is key and a new admission from May. Should add to GBP demand.

GBPUSD up to 1.2274 EURGBP down to 0.8715

FTSE 100 falls 0.5% as GBP rises

  • will ensure it can control immigration to Britain after Brexit
  • that message was clear from those who voted Leave

More from fin min Hammond :

  • we can only remain in European economic mainstream if it gets sensible trade deal