Together with public comments by ministers in her Conservative government, the changes appear to suggest May has shifted from favoring a "hard Brexit" - a clean break with the EU's single market of 500 million consumers - to supporting continued membership of that market if possible. May has declined to say whether she wants Britain to remain in the single market. Her aides say she is considering all options.
Early on in her tenure, May said little more than that she wanted "the right deal" or "best possible deal" on the trade of goods and services with the rest of Europe, which account for more than 50 percent of the British economy. But at the Conservative Party conference in October, she unveiled a more specific phrase to describe her aims for Brexit. "I want it to give British companies the maximum freedom to trade with and operate within the single market – and let European businesses do the same here," May said. Richard North, a former speech-writer for several eurosceptic lawmakers, says the phrase "operate within" is telling.
Sterling is currently being traded around 1.2380 level. Pair is likely to find support around 1.2340 area and resistance above 1.2450 handle.
Source: Reuters.com
