Theresa May has announcement that Britain’s formal departure from the European Union will begin next Wednesday OLIVIER HOSLET/EPASterling has fallen sharply after Downing Street confirmed that it would trigger Article 50 next week. The pound, which had risen against the dollar to a three-week high of $1.243, dropped to $1.237. The announcement that Britain’s formal departure from the European Union will begin next Wednesday unsettled traders. The state-controlled lender lost 3½p to 240½p; analysts suggested that some investors were taking short-term profits after good performances over recent days. Standard Chartered dropped 5¼p to 725p and Barclays fell 1½p to just shy…

Source: The Times March 20, 2017 11:59 UTC