Theresa May Florence Speech Live - Brexit Talks

UK’s PM Theresa May will be delivering her Brexit speech in Florence. May is expected to share the details of their negotiation positions regarding issues such as the citizen rights and trade relationships. This is going to be the first official speech since the trigger of Article 50 in March.

Some reports suggested that May is willing to offer to pay €20 billion to continue to have access to single market and some form of a customs union. "While she reportedly may not quote a specific figure in the speech, the gesture may help to foster a slightly more constructive dialogue between both sides during the next round of talks on Monday. But it is unlikely to be enough to convince EU leaders that enough progress has been made," analysts at ING Bank wrote in a recent report. 

Key notes:

GBP/USD flirting with lows, around mid-1.3500s ahead of May’s Brexit speech

The GBP/USD pair stalled its up-move just ahead of the 1.3600 handle and has now dropped to fresh session lows in the region of mid-1.3500s. 

EUR/GBP clings to strong recovery gains, above 0.88 ahead of May’s Brexit speech

The EUR/GBP cross once again managed to catch some fresh bids near the 0.8780-75 region and has now moved past previous session's swing highs.

About Theresa May

Theresa Mary May is a British politician who has served as Prime Minister of the United Kingdom and Leader of the Conservative Party since 2016, the second woman to hold both positions, the first being Margaret Thatcher.

Theresa May triggers Article 50