May’s letter to Tusk said Britain and the EU must work together to minimise disruption and provide as much certainty as possible, and that a deep, special partnership was in the best interests of both sides.Having earlier hit an eight-day low of $1.2377, sterling jumped to $1.2478 after it was confirmed that the letter had been sent.This up from around $1.2448 beforehand and leaving the currency up 0.2% on the day.

 Sterling also hit day’s highs against the euro at 86.37 pence.

Britain’s FTSE 100 index – most of whose earnings are denominated in other currencies – hit a session low after May triggered Article 50, down 0.3%.

Source: Reuters