In a long-awaited speech, Prime Minister Theresa May finally revealed the U.K's hand as it prepares to start EU exit talks. It also will impose controls on the number of people coming to Britain from EU member countries, abandoning the bloc's principle of free movement. But it rose above $1.23 after May outlined her vision of free trade and strong economic ties. Britain is quitting the single market in order to gain control over immigration — a key issue for many voters who backed Brexit. EU leaders say Britain can't stay in the single market without allowing the free movement of people from the bloc into Britain.

Source: ABC News January 17, 2017 10:25 UTC