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Pound jumps 1% to $1.26 mark after Brexit minister comments

Published 01/12/2016, 14:42
Updated 01/12/2016, 14:42

Investing.com - Sterling spiked 1% vs. the dollar Thursday after remarks by Brexit Minister David Davis.
Davis indicated the U.K. would mull paying for access to the single market.
The pound was up 1.49% at $1.2692 at 09:00 ET. Sterling was up 1.14% at €1.1944.
"The major criterion here is that we get the best possible access for goods and services to the European market," Davis said.
Sterling has been under pressure on concerns of impact of potential exclusion from the single market.

Latest comments

This is a huge misinterpretation of Davis's comment in response to a question he was asked. All he was saying was the standard response that no option has been ruled out during their discussions on Brexit. He did not say we would be willing to support the continued payment of fees to the EU and frankly if he suggested the government was going down that route there would be massive protests on the streets.
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