Britain has now triggered Article 50, setting both the FTSE 100 and the British pound off on a volatile course.
The FTSE sunk during Prime Minister’s Question Time as Theresa May confirmed that her letter triggering Article 50 had been delivered to Brussels. However, it has since moved upwards, currently trading up 0.31 percent at 7366.83.
The British pound remained largely flat on the news, but has since sunk 0.125 percent against the dollar.
Andrew Sentance, a senior member of the Bank of England’s monetary policy committee, warned of uncertainty over the next two years as negotiations kick off:
“Most likely, we face another two years of uncertainty before a new relationship between the UK and the EU is properly agreed. During this period we will probably see some bouts of financial volatility affecting the value of the pound and reduced business and financial confidence.”
