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U.K. to Begin Brexit Talks in March
British Prime Minister Theresa May says she will invoke Article 50, the clause needed to begin the U.K.'s exit from the European Union, by the end of March.
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British Prime Minister Theresa May says she will invoke Article 50, the clause needed to begin the U.K.’s exit from the European Union, by the end of March.
In doing so, she implies the U.K. will likely exit the EU in mid-2019. The announcement sent the British pound sterling to its weakest exchange rate since July, a month after Britain’s vote to leave.
Analysts note that a declining exchange rate is helping strengthen the British stock market. That's because the U.K.’s manufacturing base is strongly focused on exports, and a weak pound sterling makes British goods cheaper in other countries.
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