Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Reuters Today: Spanish yields seen rising at auction
Reuters Today: Spanish yields seen rising at auction - 06:21
Surprise services boost points to UK recovery
Surprise services boost points to UK recovery - 02:54
Breakingviews: Do as I say, not as I do – German wages
Breakingviews: Do as I say, not as I do – German wages - 05:04
Market Pulse: Spain under fire as investors shun bond sale
Market Pulse: Spain under fire as investors shun bond sale - 03:28
Myanmar's Kyat begins managed float
Myanmar's Kyat begins managed float - 01:59
ASEAN: territorial code of conduct draft by year-end
ASEAN: territorial code of conduct draft by year-end - 01:48
U.S. Morning Call: Stock futures down, JPMorgan to be fined
U.S. Morning Call: Stock futures down, JPMorgan to be fined - 02:08
EMEA Day Ahead:: Thursday
EMEA Day Ahead:: Thursday - 03:13
3XSQ: Customer funds in question; royal return
3XSQ: Customer funds in question; royal return - 05:44
Still cashing in? Hirst retrospective
Still cashing in? Hirst retrospective - 02:32
World's biggest car delivery center
World's biggest car delivery center - 02:41
FACTBOX: Titanic the movie sails again
FACTBOX: Titanic the movie sails again - 02:20

UK PM drives sterling bounce after Brexit woe

Wednesday, October 12, 2016 - 01:26

The struggling pound rose after a brutal sell-off, as British Prime Minister Theresa May's offer to give lawmakers some scrutiny of the process to leave the EU calmed market fears of a ''hard Brexit''. But as Kate King reports, there's still plenty to worry about, including new warnings from the financial sector.

▲ Hide Transcript

▶ View Transcript

Compromise and currency - two key words for Britain. It's battered sterling rising for the first time in five days after the UK's Prime Minister agreed to let parliament debate her government's plans to leave the European Union. (SOUNDBITE) BRITISH PRIME MINISTER, TERESA MAY SAYING: "What we are going to do is be ambitious in our negotiations, to negotiate the best deal for the British people and that will include the maximum possible access to the European market for firms to trade with and operate within the European market." Sterling rose more than 1 percent against the dollar and euro after the speech. It's taken a beating recently, tumbling to 31-year lows, on fears that Britain is heading for a "hard Brexit." That would mean Britain leaving the EU's single market to the dismay of the country's top bankers. Some are warning they'll move abroad next year if the government puts immigration ahead of protecting their rights to sell financial services across the region. (SOUNDBITE) (ENGLISH) IG MARKET ANALYST, CHRIS BEAUCHAMP, SAYING: "What you will see I think is not a sudden wholesale move but just a gentle drift, they'll keep open offices in Europe they weren't likely to keep open, they will look at not replacing jobs in London instead opening up in other European capitals." Either way the future of London as Europe's financial centre will be a big negotiating point. And Theresa May's optimism may only give the currency temporary relief.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Close

UK PM drives sterling bounce after Brexit woe

Wednesday, October 12, 2016 - 01:26

Featured Videos

London's female wrestling scene boosted by Netflix show 'Glow'

London's female wrestling scene boosted by Netflix show 'Glow'

There has been more interest in female wrestling and a clearer sense of what it involves since hit Netlfix show 'Glow' came out
Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors

Chimpanzees can understand rock, paper, scissors, Japanese primatologists show
Bladerunners - UK lawnmowers in 12-hour endurance race

Bladerunners - UK lawnmowers in 12-hour endurance race

Drivers donned their suits and climbed into their cockpits at the weekend for a 12-hour endurance race with a difference: they weren't driving rallying cars, but lawnmowers
The highs and lows of Macron's first 100 days

The highs and lows of Macron's first 100 days

French President Emmanuel Macron heads into the summer break faced with falling popularity ratings after tough debates in parliament over labour reform and a public ethics law, a standoff with the military and cuts to housing assistance
The vending machine helping fight against HIV

The vending machine helping fight against HIV

An innovative vending machine for HIV tests being piloted in Britain aims to help in the fight to end the epidemic